Solar Alliance Vaults on LOI with Illinois Firm

Solar Alliance Energy Inc (TSX-Venture:SOLR) shook up small-cap markets Monday with exciting news emanating out of Illinois.

The Vancouver-based energy company announced it has signed a Letter of Intent with NuYen Blockchain for the design, engineering and construction management of a 3.84-megawatt ground and roof mount solar project in the "Land of Lincoln" town of Murphysboro. The project would be SOLR's largest to date and is equivalent to building 750 average-sized residential solar systems.

According to SOLR CEO Myke Clark, "This project is a great example of the positive benefits of solar energy for data centres and commercial operations that want to reduce their electricity costs and offset their fossil fuel use.

"This project also illustrates success our team is experiencing in building out our project pipeline. This agreement comes as we are close to completing the construction of a 2.4 MW for a Fortune Global 500 company in the Southeast U.S.

Shares in Solar Alliance advanced late Monday morning by half a cent, or 16.7%, to 3.5 cents, on volume of 436,000 shares.