Sunworks Celebrates Completion of 1.4 MW Solar Project
May 24 2018 - 6:53PM
Sunworks, Inc. (NASDAQ:SUNW), a leading provider of solar
power solutions for agriculture, commercial, industrial (ACI),
public works and residential markets today celebrated the
completion of a 1.4 MW solar power project encompassing nine Los
Altos School District (LASD) campuses.
Sunworks was contracted by ForeFront Power, a
leading solar power developer that assists public sector agencies
by delivering the most impactful behind-the-meter, virtual, and
wholesale renewable energy solutions. Sunworks’ dedicated, in-house
construction team managed engineering, procurement and construction
(EPC) for this project. Today’s ceremony at Oak Avenue
Elementary School also included TerraVerde Energy, the District’s
procurement consultant, as well as representatives from the local
school council.
Sunworks’ Chief Executive Officer, Chuck Cargile
said, “We are proud to have been the EPC solutions provider for
this exciting solar project. The savings in utility costs at
each of the nine locations will allow for funds to be redirected to
advance educational program initiatives that directly benefit the
students. In addition, the positive results help tomorrow’s
generation understand the positive impact that sustainable energy
has on our environment.”
Mr. Cargile added, “We originally announced the
commencement of this ground-breaking project in August of
2017. At that time, we identified it as our largest public
works program to-date. We have since won a number of
projects even larger than the important LASD project, for school
customers across California. Our valuable partnership with
ForeFront Power is providing us the opportunity to expand upon our
proven record of superiority and unmatched experience in complex
solar project installation.”
LASD is receiving solar energy at no upfront
cost and without the use of bond funds using a Power Purchase
Agreement (PPA) framework with ForeFront Power. ForeFront Power is
responsible for all project financing, engineering, construction,
operations, and maintenance for a 20-year project term. As a
result, the solar portfolio is expected to save the District over
$175,000 annually and up to $2.7 million within the first ten years
of operation.
About Sunworks
Sunworks, Inc. (SUNW) is a premier provider of
high performance solar power systems. We are committed to quality
business practices that exceed industry standards and uphold our
ideals of ethics and safety.
Sunworks continues to grow its presence,
expanding nationally with regional and local offices. We strive to
consistently deliver high quality, performance-oriented solutions
for customers in a wide range of industries including agricultural,
commercial and industrial, federal, public works, and
residential.Our dedication to excellence is reflected in our
25-year warranty, a benchmark that we stand by to support our
customers above and beyond their expectations.
Sunworks’ diverse, seasoned workforce includes
distinguished veterans who bring a sense of pride, discipline, and
professionalism to their interaction with customers.Sunworks is a
member of the Solar Energy Industries Association (SEIA) and is a
proud advocate for the advancement of solar power.
About Los Altos School DistrictLos Altos School
District operates seven elementary and two junior high schools and
is a top-rated school district in the State of California. LASD
serves more than 4,500 K-8 students from portions of Los Altos, Los
Altos Hills, Mountain View and Palo Alto. All nine schools in LASD
have been recognized as California Distinguished Schools and/or
National Blue Ribbon Schools. LASD is nationally recognized as a
leader in educational innovation and for its many awards. Read more
about LASD programs at iLearn Blogspot and follow on Twitter
@lasdk8.
About ForeFront PowerThe ForeFront Power team
has more than a decade of renewable industry experience, serving
business, public sector, and wholesale power customers around the
world. Our team has developed over 800 MW of capacity across more
than 1,000 projects, targeted on assisting public sector agencies
and C&I firms to deliver the most impactful behind-the-meter,
off-site, and wholesale solutions. ForeFront Power is a wholly
owned subsidiary of Mitsui & Co., Ltd., a global energy
infrastructure and investment leader.
Safe Harbor Statement
Matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks
and uncertainties. These risks include, but are not limited to,
risks and uncertainties associated with: the impact of economic,
competitive and other factors affecting the Company and its
operations, markets, products, and prospects for sales, failure to
commercialize our technology, failure of technology to perform as
expected, failure to earn profit or revenue, higher costs than
expected, persistent operating losses, ownership dilution,
inability to repay debt, failure of acquired businesses to perform
as expected, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Media
Contact:Rita EdwardsDirector of Marketing, Sunworks,
Inc.Tel. 916.409.6900redwards@sunworksusa.com |
Investor
Relations Contact:Rob Fink Hayden IR Tel. 646.415.8972
rob@haydenir.com |
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/d0daa8b0-73dd-454c-9322-9e629d4d32b0
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