Solar Alliance Signs LOI to Acquire Tennessee Commercial Solar Company
Acquisition includes ~US $18,000,000 commercial project pipeline
VANCOUVER, BC--(July 10, 2017) - Solar Alliance Energy Inc. ('Solar Alliance') or (the 'Company') (TSX VENTURE: SAN)(OTC: SAENF) is pleased to announce it has signed a Letter of Intent ("LOI") with Thompson Machinery Commerce Corporation ("Thompson Machinery") to acquire Aries Solar, LLC ("Aries"), an established Tennessee commercial solar company that is licensed to operate in four Southeast U.S. states. Pursuant to the LOI, Solar Alliance will acquire all of the assets of Aries, including a pipeline of commercial projects with a potential revenue of ~US $18,000,000 (unaudited). The Aries team consists of experienced commercial solar project developers and technical staff that will enhance Solar Alliance's ability to increase commercial project deal flow across the Company's operations in California, the Northeast U.S. and the Southeast U.S. The Company anticipates this acquisition will materially increase revenues and net income at Solar Alliance.
- Published: 10 July 2017
- Written by Editor