This 1MW installation, to begin immediately with completion scheduled for early spring 2010, is the first of four 1MW phases planned for installation over the next four years, the company said.
As a developer of the solar project, the company will provide all of the solar equipment and balance of system. It will also receive revenue through management services provided to the college over a 20-year contract period, the company said.
Solar Energy Initiatives will partner with a funding source, as well as a solar installer, to launch the solar system.
David Fann, CEO of Solar Energy Initiatives, said: “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.”
