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Micro-Cap Announces Second Multi-Million Dollar Solar Project in One Week
By: AllPennyStocks.com News
January 15, 2010
Even though gasoline prices are not nearly as high as they were in the recession-eve days of summer 2008, investments in energy conservation continue to be worthwhile, and at least one company is taking on popular support, as well as garnering backing for new projects to build its bottom line.
Solar Energy Initiatives, Inc. (OTCBB:SNRY) is embarking on a grass roots campaign, (“RENEW THE NATION”), to help redeploy a portion of the U.S. workforce and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies. In mid-January, the company announced it had inked a second Contract to initiate a $4 million turnkey solar project and supply management services to a public school in the southeastern U.S., not far from its Jacksonville, Florida headquarters. Installation of this approximately one-megawatt project is expected to begin immediately with completion scheduled for early spring this year.
SNRY will develop the project and provide all of the solar equipment and balance of system to the commercial site. In addition to product sales and services, the Company will also receive revenue from the management of the sale of the newly generated solar electricity to the school system’s utility, over a 20-year contract period. SNRY also plans to partner with a major funding source, as well as a recognized solar installer, to launch the solar system at no “out of pocket” expense to the school district.
Founded in 2001, SNRY had the original goal of being a maker and distributor of solar energy equipment, but shifted gears three years later, organizing a solar energy dealership program to train support solar contractors with vast knowledge base in solar design, manufacturing and installations.
In 2008, the assets of Solar Energy, Inc. were acquired by Solar Energy Initiatives, Inc., a publicly-traded company based in nearby Ponte Vedra Beach. Since then, SNRY has rapidly expanded its dealership network bringing many newly trained solar contractors to the growing marketplace.
The company boasts the range and depth of experience to provide technical sizing, support, equipment-matching and sourcing to supply required equipment for almost any residential or commercial solar projects. SNRY is a master distributor for GE Photovoltaics, and offers hundreds of branded renewable energy products.
The stock price closed at 23 cents the day of the announcement, with volume going skyward (about 320,000 shares on January 14), there was plenty of buzz surrounding the stock. The price is in a 52-week range having peaked at 70 cents last July, after falling to a trough of 16.5 cents last December. Those who harbor the opinion that the company’s “RENEW THE NATION” campaign will gather momentum – and the stock price with it – may want to take a closer look at this Company.
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