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Pardee Resources Company: Solar Acquisitions

Pardee Resources Company: Solar Acquisitions

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Pardee Resources Company reports that its subsidiary, Pardee Solar 1 LLC, recently closed on investments in two renewable energy partnerships. One partnership owns 125 mobile solar generator units which are committed to a major telecommunications company under a long-term lease.  The Company’s investment in this partnership is $7.7 million and it was funded through its credit facility. The other partnership owns a roof top solar photovoltaic system located in Harrison, New York. The Company’s investment in this partnership is $716,000 and it was funded through available cash. “We are excited to continue to build our Alternative Energy Division through the addition of these two new investments,” said Carleton P. Erdman, President and Chief Executive Officer.

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Anand Gupta Editor - EQ Int'l Media Network

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