Solar Energy Initiatives Inc. has secured a letter of intent (LOI) to complete a solar PV project with a Delaware charter school. The project is expected to generate approximately $1.2 million in revenue.
The undertaking is designed to utilize approximately 1,325 solar panels and is planned for up to 300 kW of roof-mounted solar panels. The company anticipates that construction on the project will commence in 2011, with completion scheduled during fall 2011.
Solar Energy Initiatives will serve as the project developer, overseeing the construction process and providing all of the solar equipment and balance-of-system components to the commercial site. In addition to product sales and services, the company also expects to receive revenue from the management of the sale of the newly generated solar electricity. The company plans to partner with a major funding source, as well as a recognized local solar installer, to launch the solar systems.
SOURCE: Solar Energy Initiatives