Peck lands 5.3MW solar contract for Rhode Island – Vermont Biz

Vermont Business Magazine The Peck Company Holdings, Inc (NASDAQ: PECK), a leading commercial solar engineering, procurement and construction (EPC) company in South Burlington, has signed a 5.3MW contract in Rhode Island, from a long time customer.

The $7.256 million contract for a project located in Rhode Island is targeted to be completed in the first quarter of 2021. Peck’s expansion into Rhode Island adds to the recent news about the Company’s expansion into Maine. Today’s announcement of this 5.3MW contract is significant by exemplifying again that Peck is expanding its geographic footprint across the northeastern states and proving to accomplish its goals.

A recent report by Cambridge, Mass.-based Synapse Energy Economics Inc. concludes that Rhode Island can produce a greater amount of electricity than it consumes by installing solar arrays on more roofs, landfills, brownfields, gravel pits, and parking lots.

The Peck Company Holdings Chairman of the Board and Chief Executive Officer, Jeffrey Peck, commented, “This is our first project in Rhode Island, so we are very excited about working in the state and helping with their renewable energy goals. Our organic growth strategy of serving our existing customer base in other states is working and benefitting all stakeholders. We look forward to our continued expansion into Rhode Island, Maine, other states in the northeast and coast to coast. We would also like to thank our valued partners who continue to rely on Peck for our expertise and craftsmanship. These long-term relationships are an integral component of our current and future growth.”

Mr. Peck continued, “This momentum is important as we advance our efforts to close the previously announced business combination with Sunworks, Inc. (NASDAQ: SUNW). As detailed in the preliminary joint proxy statement/prospectus, we filed with the Securities and Exchange Commission on October 1, 2020, we believe the transaction with Sunworks will allow us to leverage the combined synergies to create a larger solar EPC platform with greater geographical reach and enhanced financial resources which will benefit our partners, customers and shareholders.”

Since becoming a public company in 2019, Peck has been successfully executing its three-pronged growth strategy including:

(1) Organic expansion across the Northeastern United States

(2) Conducting accretive merger and acquisition transactions to expand geographically

(3) Investing in company-owned solar assets that provide recurring revenue

The Peck Company Holdings is guided by the mission to facilitate the reduction of carbon emissions through the expansion of clean, renewable energy and it believes that leveraging such core values to deploy resources toward profitable business is the only sustainable strategy to achieve these objectives.

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 165 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.

Source: https://www.vermontbiz.com/news/2020/october/08/peck-lands-53mw-solar-contract-rhode-island

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