May 31, 2023

Vancouver, British Columbia, CANADA TORONTO and KNOXVILLE, Tenn., May 31, 2023 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR), a leading solar energy solutions provider focused on the commercial and utility solar sectors, is pleased to announce it has signed a contract for the design, engineering, and construction of a 565-kilowatt (“kW”) commercial solar project for a manufacturing client in Tennessee. 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. “This project – and others like it that we have signed this year – is a great example of the type of large revenue project Solar Alliance is now targeting and delivering,” said CEO Myke Clark. “We worked closely with this client to design a solar system that meets their specific needs. Our commitment to providing outstanding customer service and technical expertise is driving increasing sales for our company and quality solar projects for our customers.” The project contributes to a backlog of contracted projects that now totals $4.6 million. All of the projects in the backlog are scheduled to be completed this year, including the following previously announced contracts: An 872-kW solar project in Tennessee announced on February 13, 2023. The project, with a $1.8 million capital cost, is scheduled to begin construction in Q2 2023 with completion targeted by October 2023. Five small and medium-sized solar projects in Tennessee and Kentucky, ranging in size from 40-kW to 113-kW. The projects, announced on May 25, 2023, have a combined capital cost of $1.1 million and are all expected to be completed in 2023. “We continue to execute and deliver on a diverse and growing portfolio of solar projects for customers in the Southeast U.S. Our goal is to provide low-cost, renewable solar power to businesses so they can reduce their operating costs and realize substantial environmental benefits. The economic basis for businesses to make the switch to solar is more compelling than ever and supports our favourable outlook for the balance of the year. Notably, we believe our current contracted backlog of projects positions Solar Alliance for yet another year of strong revenue growth in 2023,” concluded Clark. Myke Clark, CEO