Solar Alliance completes 2.4 MW, US$2.7 million solar project for Bridgestone
The Project, with a capital cost of US$2.7 million, is powered by more than 7,000 solar modules and will generate almost 4 gigawatt hours (GWh) of electricity annually.
TORONTO and KNOXVILLE — Solar Alliance Energy Inc. announces that work has been completed at the 2.4 Megawatt commercial solar project for Bridgestone Americas Inc., a subsidiary of Bridgestone Corporation, in South Carolina. This is the largest solar project in the Company’s history and was constructed on a confidential basis until it was fully completed and operational.
The Project, with a capital cost of US$2.7 million, is powered by more than 7,000 solar modules and will generate almost 4 gigawatt hours (GWh) of electricity annually, equivalent to powering almost 600 homes and offseting 2,829 tons of carbon dioxide emission each year. The Project will also generate substantial electricity cost savings and the energy produced by the Project will be used entirely to offset usage within Bridgestone’s facility.
“Bridgestone has illustrated a clear commitment to reducing their carbon footprint and we were proud to work with them to achieve this goal,” said Solar Alliance CEO Myke Clark. “This project showcases the benefits of solar for large manufacturing companies like Bridgestone that are committed to renewable energy solutions that will benefit today’s and future generations. As Solar Alliance continues to grow, we are excited to work with companies like Bridgestone so they can realize significant electricity cost savings in addition to the clear environmental benefits. This project is representative of the size and quality of project we are targeting as we continue to grow our business.”
The US$2.7 million capital cost represents the revenue to Solar Alliance and is recognized in the Company’s financial statements on a staged basis until completion. Profit margins are in line with the Company’s other large scale solar projects.