Pardee Resources Company: Solar PV Investment

Rhea-AI Summary

Pardee Resources Company (OTC: PDER) has announced a significant renewable energy investment through its subsidiary, Pardee Renewable Energy LLC. The company will invest $15.2 million for a 90% equity stake in four renewable energy partnerships focused on installing solar photovoltaic systems.

The project involves installing 4.6 MW capacity solar PV systems on nine public schools in Roanoke, Virginia, partnering with Secure Solar Futures. The investment will be partially funded through $8.3 million in commercial bank loans at the partnership level and qualifies for federal investment tax credits. Installation is scheduled for completion in Q4 2025.

Positive

• Investment of $15.2 million for 90% equity stake in renewable energy partnerships
• Project qualifies for federal investment tax credits
• Strategic expansion into educational sector solar installations
• Partial financing secured through $8.3 million in commercial bank loans

Negative

• Significant project execution risk with multiple installation sites
• Substantial dependence on bank financing
• Project completion timeline pressure with Q4 2025 deadline

RADNOR,Pa., July 28, 2025 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") reports that its subsidiary, Pardee Renewable Energy LLC, recently agreed to invest $15.2 million in a 90% equity interest in four renewable energy partnerships that intend to install new solar photovoltaic systems (solar PV systems) with a total capacity of 4.6 MW on the rooftops of nine public schools located in Roanoke, Virginia. The investment will be financed, in part, with commercial bank loans at the partnership level, in the amount of $8.3 million, and qualifies for federal investment tax credits which will be utilized by the Company. The solar PV systems are scheduled to be installed and placed in service during Q4 2025. "Pardee is excited to partner with Secure Solar Futures, a Virginia based solar developer, on this renewable energy investment and looks forward to adding these solar PV systems to our Alternative Energy Division's portfolio" said Carleton P. Erdman, President and Chief Executive Officer.

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, difficult economic conditions and other risks and uncertainties. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/news-releases/pardee-resources-company-solar-pv-investment-302515103.html

SOURCE Pardee Resources Company

FAQ

What is the size of Pardee Resources' new solar investment in Virginia schools?

Pardee Resources is investing $15.2 million for a 90% equity stake in partnerships that will install 4.6 MW solar PV systems across nine public schools in Roanoke, Virginia.

When will PDER complete the installation of the school solar projects?

The solar PV systems are scheduled to be installed and placed in service during Q4 2025.

How is Pardee Resources financing the solar PV system installations?

The investment will be financed through a combination of $8.3 million in commercial bank loans at the partnership level and will qualify for federal investment tax credits.

Who is Pardee Resources partnering with for the Virginia school solar projects?

Pardee Resources is partnering with Secure Solar Futures, a Virginia-based solar developer, for this renewable energy investment.

What is the total capacity of the solar PV systems being installed by PDER?

The total capacity of the solar photovoltaic systems being installed is 4.6 MW across nine public schools in Roanoke, Virginia.