The Peck Company Holdings Awarded $2.365 Million Contract for a 6.8MW Project in Maine

Rhea-AI Summary

The Peck Company Holdings (NASDAQ:PECK) has secured a 6.8MW solar project contract in Maine valued at $2.365 million, aimed for completion in Q1 2021. This contract enhances Peck's growth in Maine, projected to develop 873 MW of solar capacity in the next five years, transforming into a more advanced market. The company’s three-pronged growth strategy includes organic expansion, accretive acquisitions, and investments in solar assets. Peck remains committed to reducing carbon emissions through renewable energy while maintaining a reputation for quality work over nearly 50 years.

Positive

• Secured a $2.365 million contract for a 6.8MW solar project in Maine.
• Maine projected to develop 873 MW of solar over the next five years, indicating strong market potential.
• Continues to execute a successful three-pronged growth strategy.

Negative

• None.

BURLINGTON, Vt.--(BUSINESS WIRE)--The Peck Company Holdings, Inc. (NASDAQ:PECK) (the “Company” or “Peck”), a leading commercial solar engineering, procurement and construction (EPC) company, is pleased to announce the signing of a 6.8MW contract in Maine, from a long time customer.

The $2.365 million contract for a project located near Portland, Maine is targeted to be completed in the first quarter of 2021. Peck’s expansion into Maine has been a highlighted area for growth for the Company, and today’s announcement of this 6.8MW contract is a significant step in gaining a foothold in Maine. According to SEIA’s Solar Market Insights Report, Maine is projected to develop 873 MW of solar over the next 5 years, which will result in Maine moving from one of the lesser developed solar markets in the country to one of the more advanced over the next several years.

The Peck Company Holdings Chairman of the Board and Chief Executive Officer, Jeffrey Peck, commented, “We are pleased to have been selected once again by one of our long time customers. We pride ourselves on solid relationships that are built over many years. As our customers grow, they rely on trusted partners to support them in new markets. We have provided on time and on budget quality work for almost 50 years and our expertise is recognized by customers and leads to a high degree of recurring business. We look forward to our continued expansion into Maine as we target completion for the project in the first quarter of 2021.”

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 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.

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