Solar Alliance Energy Inc.is pleased to announce it has signed a Solar Origination Agreement (the "Agreement") with Crius Solar, LLC ("Crius Solar"), an affiliate of Crius Energy, LLC. Under the Agreement, Solar Alliance will lead efforts to identify and develop new residential solar projects in five States across the Northeast as well as Northern California for Crius Solar and partner with the full-service solar provider to bring those solar systems to installation.
"This agreement with Crius Solar is a perfect fit and will accelerate our expansion plans in the northeast U.S. and through the rest of California," said Solar Alliance Chairman and CEO Jason Bak. "Crius Solar brings a broad network of financing partners and installation capabilities as well as a multi-state footprint that creates excellent synergies with the sales and marketing team at Solar Alliance. Our relationship provides a highly effective way for Solar Alliance to expand our sales and marketing reach coast to coast in the United States while providing homeowners with affordable, quality solar through a strong company like Crius Solar."
"Crius Solar is excited to leverage the proven sales and marketing expertise of our newest partner as a way to further augment lead and installation volume for our growing and vertically integrated solar business," said Christian McArthur, Executive Vice President, Crius Solar. "With the pending close of our Verengo acquisition, the Crius Solar and Solar Alliance teams will draw upon our track record of more than 20,000 residential solar installations -- as well as the proprietary customer and project management platform acquired from SunEdison -- to deliver an exceptional solar experience to U.S. consumers. Further, as we transition more of our cost base to variable costs tied directly to customer growth, Crius Solar is best-positioned to serve and maintain these customer relationships for decades to come."
The expanded sales teams and markets represent revenue streams that are additive to Solar Alliance's current organic expansion plans and will provide significant geographic diversification. Solar Alliance will initially focus on markets that represent the majority of the existing retail energy customer base of Crius Solar's affiliate company, Crius Energy, LLC, including: California, Connecticut, Massachusetts, New Jersey, New York and Rhode Island.
With access to robust energy usage information on customers in these markets as well as exclusive bundled energy product options through Crius Solar's family of brands, Solar Alliance will bring to market a competitively priced, high value solar offering through this relationship.
The Agreement with Crius Solar follows Solar Alliance's recent acquisition of a Los Angeles solar sales team and project pipeline. This move tripled the size of the Solar Alliance team and added a backlog of 156 residential solar projects, or approximately 780 kilowatts, a majority of which are expected to be fulfilled by Crius Solar over the next 60-90 days.
Source: Solar Alliance Energy Inc.
Date: May 15, 2017