The Peck Company Holdings Expands into Rhode Island with $7.256 Million EPC Contract for a 5.3 MW Solar Project

Oct 8, 2020 12:19 PM ET
  • The Peck Company Holdings Expands into Rhode Island with $7.256 Million EPC Contract for a 5.3 MW Solar Project

The $7.256 million contract for a task found in Rhode Island is targeted to be completed in the initial quarter of 2021. Peck's expansion into Rhode Island adds to the recent information regarding the Company's development right into Maine. Today's statement of this 5.3 MW contract is considerable by exhibiting once more that Peck is increasing its geographic impact throughout the northeastern states and also showing to complete its objectives.

A current report by Cambridge, Mass.-based Synapse Energy Economics Inc. wraps up that Rhode Island can create a greater quantity of electrical power than it takes in by setting up solar arrays on even more roof coverings, land fills, brownfields, gravel pits, as well as car park.

The Peck Company Holdings Chairman of the Board and also Chief Executive Officer, Jeffrey Peck, commented, "This is our first project in Rhode Island, so we are very thrilled concerning working in the state and also helping with their renewable resource goals. Our natural development approach of offering our existing customer base in various other states is working and profiting all stakeholders. We eagerly anticipate our ongoing expansion right into Rhode Island, Maine, other states in the northeast and shore to coast. We would certainly also like to thank our valued partners that remain to rely upon Peck for our knowledge as well as workmanship. These long-term partnerships are an essential part of our current and future development."

Mr. Peck proceeded, "This momentum is important as we progress our efforts to close the previously introduced business combination with Sunworks, Inc. (NASDAQ: SUNW). As outlined in the preliminary joint proxy statement/prospectus, we submitted with the Securities and also Exchange Commission on October 1, 2020, we believe the purchase with Sunworks will certainly allow us to leverage the consolidated harmonies to develop a bigger solar EPC system with higher geographical reach and enhanced funds which will certainly profit our companions, customers and shareholders."

Because ending up being a public company in 2019, Peck has actually been efficiently implementing its three-pronged growth approach consisting of:

  1.  Organic expansion across the Northeastern United States
  2.  Conducting accretive merger as well as procurement deals to increase geographically
  3.  Investing in company-owned solar properties that supply reoccuring earnings

The Peck Company Holdings is led by the mission to help with the decrease of carbon exhausts through the development of clean, renewable resource and also it thinks that leveraging such core values to release sources toward successful business is the only lasting approach to attain these goals.

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