- SUNation Energy (SUNE, Financial) signs Letters of Intent for solar projects totaling 2.35 MW in Long Island schools.
- The projects aim to generate over 3 megawatt-hours annually, significantly offsetting energy needs.
- Execution is subject to final agreements and ongoing discussions.
SUNation Energy, Inc. (SUNE) has entered into Letters of Intent with Energy Systems Group (ESG) to develop solar projects with a total capacity of 2.35 MW across two school districts in Long Island, New York. These projects, covering ten buildings, are expected to produce approximately 3 megawatt-hours of renewable energy annually, addressing a substantial portion of each district’s energy requirements.
The first initiative involves seven schools and facility buildings with a 1.3 MW generation potential via rooftop solar panels. This project is anticipated to produce around 1,687,723 kWh annually, offsetting about 75.85% of the district's energy consumption.
Meanwhile, the second project focuses on three buildings, with a potential to generate 1.057 MW. It is projected to produce 1,371,712 kWh each year, offsetting approximately 87.3% of the district's energy needs.
SUNation Energy's CEO Scott Maskin emphasized the strong institutional demand for commercial-scale solar projects that provide substantial value. However, he noted that the projects' execution will depend on finalizing definitive agreements and ongoing discussions between the involved parties.
