The Peck Company Completes Construction and Sale of Two Solar Projects Totaling 1.6MW
January 16 2020 - 8:06AM
Business Wire
Delivering results according to plan
The Peck Company Holdings, Inc. (NASDAQ:PECK), a leading
commercial solar engineering, procurement and construction (EPC)
company, today provided an update to investors about progress
regarding the Company’s solar project acquisition strategy.
The Peck Company is deploying a multi-pronged growth strategy
with the following core pillars:
- Organic growth by leveraging existing relationships to expand
across the Northeast;
- Accretive M&A of profitable businesses to expand geographic
footprint, capabilities, and cash flow; and
- Acquisition of solar arrays to construct and resell at a profit
or to hold for recurring revenue
With respect to the solar array acquisition strategy, the
Company previously announced an initial agreement to construct a
portfolio of PV solar arrays it acquired that will generate 7
megawatts for one of its customers.
The Peck Company recently completed two projects from this
portfolio during the fourth quarter. John Sullivan, CFO, commented,
“We have consistently achieved our profitability targets across the
project portfolio and continue to utilize our financial metrics
when adding to our project pipeline.” Additional financial details
were not disclosed.
Jeffrey Peck, CEO, commented, “Our Company is in an ideal
position to serve the solar industry as a solar EPC contractor that
can interface between both the early stage developers and late
stage asset owners by de-risking the construction phase of the
project, a core competency of The Peck Company. We will continue to
provide value to the industry by solving problems and delivering
results.”
Jeffrey Peck continued, “In light of the increasing awareness
and support of the renewable energy sector by local governments,
states, and some of the largest investment firms, we recognize the
tremendous growth opportunity ahead of us to construct our energy
future and will continue to stay focused on delivering profitable
results through the renewable energy transition.”
About The Peck Company Holdings, Inc.
Headquartered in South Burlington, VT, The Peck Company
Holdings, Inc. is a 2nd-generation family business founded in 1972
and rooted in values that align people, purpose, and profitability.
Ranked by Solar Power World as one of the leading commercial solar
contractors in the Northeastern United States, the Company provides
EPC services to solar energy customers for projects ranging in size
from several kilowatts for residential properties to multi-megawatt
systems for large commercial and utility scale projects. The
Company has installed over 125 megawatts worth of solar systems
since it started installing solar in 2012 and continues its focus
on profitable growth opportunities. Please visit
www.peckcompany.com for additional information.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Words or phrases such as
"may," "should," "expects," "could," "intends," "plans,"
"anticipates," "estimates," "believes," "forecasts," "predicts" or
other similar expressions are intended to identify forward-looking
statements, which include, without limitation, earnings forecasts,
effective tax rate, statements relating to our business strategy
and statements of expectations, beliefs, future plans and
strategies and anticipated developments concerning our industry,
business, operations and financial performance and condition.
The forward-looking statements included in this press release
are based on our current expectations, projections, estimates and
assumptions. These statements are only predictions, not guarantees.
Such forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from
what is forecast in such forward-looking statements, and include,
without limitation, the risk factors described from time to time in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K.
All forward-looking statements included in this press release
are based on information currently available to us, and we assume
no obligation to update any forward-looking statement except as may
be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200116005178/en/
IR: J. Charles Assets Jay Hetrick 407-627-0169
jayhetrick@jcharlesassets.com JCharlesAssets.com
Peck (NASDAQ:PECK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Peck (NASDAQ:PECK)
Historical Stock Chart
From Apr 2023 to Apr 2024