With its eye on a nationwide move towards the adoption of solar power generation, Solar Energy Initiatives, Inc. has signed a $6.5 million Letter of Intent for the installation of solar panels on school buildings in western U.S. The panels, the size, capacity and manufacturer of which were not disclosed, are expected to be installed within the next few months.
Solar Energy Initiatives’ unnamed equipment supplier will initiate the system, while funding for the project will come from investors. The company will sell the generated solar energy to the school district at a discounted rate.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
“We are very pleased with how quickly our Company was able to generate its first multi-million dollar commercial contract,” said David Fann, Chief Executive Officer of Solar Energy Initiatives. “This agreement is proof that our focused and compelling business model presents municipalities with efficient and immediate cost saving opportunities. We are confident that additional commercial organizations will recognize Solar Energy’s low cost, high return solution and add to our now estimated $60 Million project pipeline.”