The Peck Company Holdings, a commercial solar engineering, procurement and construction (EPC) company, signed a $7.256 million contract for a 5.3-MW PV project located in Rhode Island that is targeted to be completed in the first quarter of 2021. Peck’s expansion into Rhode Island adds to its recent expansion into Maine and the northeastern states to accomplish the company’s goals.
“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,” said Jeffrey Peck, chairman of the board and CEO, The Peck Company. 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.”
A recent report by Cambridge, Massachusetts-based Synapse Energy Economics 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.
“This momentum is important as we advance our efforts to close the previously announced business combination with Sunworks,” Peck said. “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 executing its three-pronged growth strategy including:
- Expansion across the Northeastern United States
- Conducting accretive merger and acquisition transactions to expand geographically
- 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, the company stated in a press release.
News item from The Peck Company Holdings