The first Solar Samoa Ltd. project is a 4.5MW project and is expected to generate total first year revenues of approximately $2.5 million US dollars. The 20 year outlook for the first Solar Samoa Ltd. system is approximate gross revenues of $70MM and net cashflow estimated at $18MM over its life.
"The signing of this agreement is another step forward in the Company's strategy to expand and become a global player in the solar power industry," said Michael Matvieshen, CEO. "We are very excited to have the opportunity to acquire the balance of this company in Samoa and to provide reliable, cost efficient and clean renewable energy to its citizens of Samoa, as we continue to establish ourselves as a global solar energy provider. These solar installations will be designed, built and managed by Sunlogics Power Fund."
Mr. Bingle, the newly appointed President, noted, "The opportunity for Solar in Samoa enhances the company profile in the global solar market place. The Samoa opportunity allows Salamon Group, Inc. to draw on our world class solar experts that we have brought under our umbrella with the acquisitions of Arise Technologies, ECO Energy Solutions, as well as our strategic relationship with China Triumph."
