Jan 13 2010
Solar Energy Initiatives, Inc. (OTCBB: SNRY), executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced the signing of a contract to initiate construction of a $4 million turn-key solar project and supply a school system located in the Southeastern U.S. with solar energy management services.
This 1 megawatt installation, to begin immediately with completion scheduled for early spring 2010, is the first of four 1 megawatt phases planned for installation over the next four years.
As developer for the solar project, the Company will provide all of the solar equipment and balance of system. In addition to product sales and services, Solar Energy Initiatives will also receive revenue through management services provided to the college over a 20-year contract period. SNRY will partner with a significant funding source, as well as a recognized solar installer, to launch the solar system at no “out of pocket” expense to the College.
“The attainment of this contract proves SNRY’s cost saving service offerings are highly desirable for municipalities, school systems and universities, throughout the nation.” stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. “With an increasing amount of signed contracts, it is evident that Solar Energy Initiatives is gaining momentum as a market leader within the solar energy market. Management remains diligent in its efforts to continue to grow our reputation along with relationships with additional municipalities seeking cost effective energy solutions. We will continue to leverage our proven business model in order to augment both revenue and earnings throughout 2010.”
Source: http://www.solarenergy.com/