??This news exemplifies our aggressive market position, says Michael Gorton, chief executive officer and chairman of PSI. Our business model creates long-term associations that continually build value, and the professional negotiations with Talmage Solar are a great example of how business transactions can be conducted, providing a model for us going forward. We have also attracted the attention of distinguished industry leaders, most notably Hunter Hunt. His continued support of solar power and research for renewable energy aligns directly with our bottom-line initiatives, and we will rely upon his strategies and guidance in building PSI into a dominant force in the solar energy marketplace. ??
The SunGen Mill 77 acquisition marks the second time that Talmage Solar Engineering Inc./Solar Market and Principal Solar have partnered on a solar system acquisition. ?The 63 kW roof-mounted facility is located in Arundel, ME. Terms of the transaction were not disclosed.??Kale Inoue, partner, Talmage Solar, explains, The ease of our first transaction with Principal Solar — the acquisition of SunGen Step Guys — led to our decision to move forward with the SunGen Mill 77deal. Principal Solar and its mission of acquiring best-in-class solar assets and companies, is paving the way for a clean, sustainable energy economy that complements and off sets traditional sources of energy created by fossil fuels. Partners like us, recognize the value of their model.
??Welcoming Hunt to the Board of Directors, Gorton adds, Hunter is a recognized innovator in the energy sector and brings to Principal Solar extensive experience in multiple industries, including oil and natural gas, petroleum refining, liquefied natural gas, and electric utility and energy infrastructure. We are fortunate to have this level of expertise. ??According to Hunt, Solar power continues to rapidly gain traction as a major electricity generation source in the energy marketplace, and I look forward to contributing to the growth of Principal Solar as it builds a leadership position.
The coexistence and integration of renewable energy and traditional sources of energy is in its infancy, and Principal Solar has the right strategy to quickly bring solar into the mainstream. The company is already off to a great start with its initial acquisitions, the launch of its Definitive Solar Library, and the formation of a strong management team and advisory board. I am honored to join their efforts as a board director.
