Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) announces it has filed its audited financial results for the quarter and year ended December 31, 2021. The Company’s Financial Statements and related Management’s Discussion and Analysis are available under the Company’s profile at www.sedar.com.
“2021 was a transformative year for Solar Alliance, as we continued to successfully transition our focus to larger, higher revenue solar projects in addition to owning and operating the Company’s own solar assets,” said CEO Myke Clark. “We experienced a strong revenue increase in the fourth quarter as our strategic transition to larger solar projects began to show tangible results and our backlog of contracted projects grew to $4,200,000. This growing revenue stream, in addition to building a portfolio of solar projects we own and operate, has positioned Solar Alliance to take advantage of the expanding solar market in the U.S.”
Key financial and business highlights
“Solar Alliance has pursued a balanced strategy – the high growth of building for third party customers combined with recurring revenue from solar assets we own – that is scalable and supports our goal of becoming a leading commercial and industrial solar provider in the U.S. In 2021, we increased our contracted backlog, improved our balance sheet and added several key employees to accelerate growth moving forward,” concluded Clark.
Myke Clark, CEO
Investor Relations
For more information:
Myke Clark, CEO
416-848-7744
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About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, North/South Carolina and Illinois and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed $1 billion of renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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