The company will sell the solar energy generated from the project, to the US school district at a discounted rate compared to the present electricity provider.
Solar Energy Initiatives will partner with an important funding source, installing the solar system at no out of pocket cost to the municipality. The company will divide the revenue of the energy sold to US school district and recognize energy sales more than a 20 year period.
“We are very pleased with how quickly our Company was able to generate its first multi-million dollar commercial contract,” stated 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.”
