LAS VEGAS, NV - March 29, 2012 (Investorideas.com renewable energy newswire) Salamon Group, Inc. (OTCQB: SLMU) said Wednesday that it has secured the rights to build solar power systems on the rooftops of 23 schools in Williamson County Tennessee. Salamon will immediately start building 3 solar powe
LAS VEGAS, NV - March 29, 2012 (Investorideas.com renewable energy newswire) Salamon Group, Inc. (OTCQB: SLMU) said Wednesday that it has secured the rights to build solar power systems on the rooftops of 23 schools in Williamson County Tennessee. Salamon will immediately start building 3 solar power systems with an output of 200KW each, the first 3 school rooftops total 600KW. These three projects have total combined revenues of $3.3M over the life of the contract, and yield a levered IRR of approximately 25%. The Company plans to continue building out the remaining 20 rooftops later this spring.
CEO Michael Matvieshen stated, "We are excited to commence building solar power systems on these public sector rooftops, which is one of the Company's strategic solar verticals." Mr. Matvieshen continued, "The public sector buildings offer an enormous real-estate opportunity and are the most stable real estate asset to build solar power systems on, and they offer a tremendous potential for a project pipeline for the Company. We expect that our 'SolarPlus' go to market strategy will secure large solar project rights that will allow us to build quality infrastructure type assets with premium investment yields for the company."
About Salamon Group
Salamon Group, Inc. and its Sunlogics Power Fund Management, Inc. division, is a solar and renewable energy company specializing in the acquisition, construction and management of renewable energy power projects and companies. It is a project-acquiring partner of Sunlogics Plc and its subsidiary as well as other third party project developers. The Company also takes positions in other solar and renewable energy project producing companies that are a strategic fit within the Company's overall strategy.
For further information, Orsay Groupe, Inc. 305-515-8077 and/or visit: http://www.sunlogicspowerfund.com/ www.sunlogics.com
SLMU cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Orsay Groupe, Inc.
William J. Nalley
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