EL CAJON, CA - November 10, 2021 (Investorideas.com Newswire) Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power and roofing systems installation company, today announced that subsidiary USA Solar Networks has secured a lease agreement with Mohave Farms, a tier-1 multi-generational agriculture operator, to build and maintain a $36 million micro-grid project for a 20,000 acre farm near Kingman, Arizona.
Per the terms of the agreement, Solar Integrated Roofing Corp. will provide a 3MW solar project as well as an accompanying battery and integrated propane supply system - the proprietary, patented generator systems work in unison with the multiple alternative energy solutions, enabled through an AI-driven power management system.
The client will pay Solar Integrated Roofing in exchange for an ongoing lease payment of over $420,000 a month for a 30-year term. The micro-grid is expected to produce over 45 million kWh of electricity annually, allowing Mohave Farms to operate its alfalfa, pecan and dairy farms independent of electric utilities in a remote location. Solar Integrated Roofing Corp. will own the system, leveraging third party financing and providing all warranties, maintenance, monitoring and power guarantees to the host, ensuring Mohave is never without the necessary power to operate their facility.
"We are pleased to announce this incredible new partnership with Mohave Farms, expanding the reach of the SIRC family of companies into the area of operating lucrative micro-grids such as these - leveraging our unique skillset," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. "We are providing Mohave Farms with hundreds of millions of dollars' worth of potential savings over the 30-year term, while further driving clean-energy adoption in the region."
Pablo Diaz, CEO of USA Solar Networks, a SIRC company, added: "This project is a testament to our scale and ability to deploy some of the most technologically advanced systems available on the market today in a cost-effective manner for our clients. I look forward to further contract wins in the future, helping to generate sustainable value for my fellow shareholders over the long-term."
Cameron Calaway of Mohave Farms concluded: "Given our multi-national reach, this is the first of what we believe will be many projects with Solar Integrated Roofing Corp. - we are pleased with the arrangement at our Arizona farm and look forward to transitioning more of our footprint to renewable-energy in the future."
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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