Thursday, March 29, 2012

Salamon Group secures public sector rooftop solar projects

LAS VEGAS, USA: Salamon Group Inc. has secured the rights to build solar power systems on the rooftops of 23 schools in Williamson County Tennessee. Salamon will immediately start building three solar power systems with an output of 200KW each, the first three school rooftops total 600KW.

These three projects have total combined revenues of $3.3 million over the life of the contract, and yield a levered IRR of approximately 25 percent. The company plans to continue building out the remaining 20 rooftops later this spring.

Michael Matvieshen, CEO, said: "We are excited to commence building solar power systems on these public sector rooftops, which is one of the Company's strategic solar verticals. The public sector buildings offer an enormous real-estate opportunity and are the most stable real estate asset to build solar power systems on, and they offer a tremendous potential for a project pipeline for the Company. We expect that our 'SolarPlus' go to market strategy will secure large solar project rights that will allow us to build quality infrastructure type assets with premium investment yields for the company."

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