Mr. Myke Clark reports

SOLAR ALLIANCE SIGNS TWO CONTRACTS TOTALING $530,000 FOR COMMERCIAL SOLAR PROJECTS IN TENNESSEE

Solar Alliance Energy Inc. has signed contracts for the design, engineering and construction of two commercial solar projects for a client in Tennessee, with a total capital cost of $530,000.

The two projects contribute to a backlog of contracted projects that now totals $6.6-million.

The first project is a rooftop system with a capacity of 131 kilowatts (kW) and a capital cost of $380,000. The second project is a rooftop system with a capacity of 43 kW and a capital cost of $150,000. The two projects are scheduled to begin construction in Q3 2023 and are currently targeted for completion by the end of 2023.

"Our team continues to provide quality commercial solar opportunities for businesses in the southeast U.S. and that is translating into significant sales growth this year," said chief executive officer Myke Clark. "We have successfully transitioned our business into larger commercial and industrial solar systems and the accelerated sales growth we are experiencing has resulted in a significant backlog of contracted projects. This backlog, which is the largest Solar Alliance has ever experienced in commercial solar, provides a strong foundation for continued growth this year and into 2024," concluded Mr. Clark.

The $6.6-million backlog of contracted projects includes the following previously announced contracts:

• Two projects, 250 kW and 299 kW, for a Tennessee client announced on July 10, 2023. The two projects, with a combined capital cost of $1.58-million, are scheduled to begin construction in Q3 2023 and are currently targeted for completion in Q1 2024.
• A 565 kW commercial solar project for a manufacturing client in Tennessee announced on May 31, 2023. The project, with a $1.47-million capital cost, is scheduled to begin construction in Q3 2023 and is currently targeted for completion by the end of 2023.
• An 872 kW solar project in Tennessee announced on Feb. 13, 2023, with a $1.8-million capital cost. Design and engineering on the project began in Q2 2023 with completion targeted by the end of 2023.

About Solar Alliance Energy Inc.

Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Its experienced team of solar professionals reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance's strategy is to build, own and operate its own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers. The company currently owns two operating solar projects in New York and is actively pursuing opportunities to grow its ownership pipeline. The technical and operational synergies from this combined business model support sustained growth across the solar project value chain from design, engineering, installation, ownership and operations/maintenance.

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