Solar Alliance Signs Agreement for 56 Megawatt, U.S. $60 Million Solar Project
TORONTO and KNOXVILLE, Tenn., Jan. 05, 2021
Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF) is pleased to announce it signed a binding Letter of Intent on January 4, 2021 (the “Agreement”) with Green Data Center Real Estate Inc. (“Green Data”) for the design and construction of a 56 megawatt (“MW”) solar project located in Illinois. The project will include battery storage capabilities and generator-based backup power. The capital cost of the solar portion of the project is expected to be approximately US$60 million. Under the terms of the Agreement Green Data is responsible for arranging project equity and debt and Solar Alliance has an option to provide up to 10% of the project equity.
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