Press Releases

Solar Alliance Commences First Project in Newly Signed US$39,000,000 Solar Project Portfolio

June 10, 2019

Company also provides additional details on projects in the pipeline

Vancouver, Canada, & Knoxville, Tennessee, June 10th, 2019 – Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF) is pleased to announce that work will commence this week in Florida on the first project in the 25 megawatt (“MW”) project pipeline signed with Sundamental LLC and announced on June 5, 2019. The Company is also pleased to provide additional information on the projects in the pipeline, which have a combined capital cost of US$39,000,000 with an expected 10-15% gross profit margin.

“The commencement of the first portfolio project in Florida and the prospect of building an additional 25 megawatts of projects for Sundamental has the potential to be truly transformative for Solar Alliance,” said CEO Myke Clark. “This represents a 735% increase over projects constructed last year. More importantly, many of these projects are either already financed or have financing solutions arranged. Solar Alliance is quickly transitioning into a much larger regional solar company with a goal of expanding even further,” concluded Clark.

First Project Commences. The Company is undertaking construction management services for the 715 kilowatt (“kW”) BE Trilogy Solar Project LLC (“Trilogy”) ground mount solar installation in Groveland, Florida. Ground preparation and partial racking installation has already taken place at the project site and construction is expected to be completed before the end of summer. The energy produced from the solar project is estimated to provide 100% of the power required for the Cascades of Groveland Homeowners Association. This is the first non-utility 3rd party owned solar array that is powering a non-profit in the state of Florida.

25 MW Pipeline Details. The Solar Development Agreement (“Development Agreement”) with Sundamental, LLC, a company affiliated with Trilogy, provides Solar Alliance with an exclusive option for Solar Alliance to provide construction management or full engineer, procurement and construction (“EPC”) services for a pipeline of up to 18 solar projects in New Jersey, Illinois, Texas and California. With a total installed capacity of 25 MW, the project pipeline is the equivalent to installing more than 3,600 average sized residential solar systems. The individual system sizes and locations are detailed below:

Location

Size (kW)

Location

Size (kW)

New Jersey

1258

Texas

13500

New Jersey

514

Texas

525

New Jersey

341

Illinois

68

New Jersey

218

Illinois

438

New Jersey

333

Illinois

258

New Jersey

985

Illinois

78

New Jersey

102

Illinois

26

New Jersey

113

Illinois

2000

California

2823

Illinois

2000

The Development Agreement also contains an option for Solar Alliance to contribute equity to any of the 18 projects in the pipeline, which could result in another recurring revenue stream to Solar Alliance.

Initial racking installation at the Trilogy project in Florida.

Profit attributable to Solar Alliance will vary by project depending on the type of contract signed for each but are in the range of 10-15%. EPC projects generate higher profit margins while construction management contracts generate lower revenue totals but higher margins. The Company anticipates the projects in the pipeline will be financed by Sundamental LLC or an affiliate that will provide funding for equipment and other costs of goods. The projects in the pipeline are all late stage developments and an assessment is already underway to prioritize each of the projects in the pipeline and move them towards construction.

Myke Clark, CEO

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 California, Tennessee, North/South Carolina and Kentucky and has an expanding pipeline of solar projects.  Since it was founded in 2003, the Company has developed wind and solar 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.”