October 17 (Renewables Now) - Solar Alliance Energy Inc (CVE:SOLR) has signed a pact with UK movie theatre chain Empire Cinemas Ltd, agreeing to develop up to 2.8 MW of solar projects on top of its locations.
At present, Empire Cinemas has 14 sites in the UK, each of which has the rooftop capacity to support a solar array of about 200 kW. This project portfolio has a potential value of about USD 5.6 million (EUR 5m), given that similar sized systems typically have a capital cost of some USD 400,000, the solar installer said.
According to the announcement, the parties will focus initially on the Empire Birmingham Great Park. For each individual project, the pair will complete site design and financial modeling and negotiate a separate project development agreement.
(USD 1.0 = EUR 0.901)