Sunrise Solar Jumps on County Agreement
Sunrise Solar Corporation [[SSLR.OB]] shares jumped more than 50 percent higher after it announced an agreement to assist Macon County, Alabama with the implementation of new alternative energy projects. The company will evaluate green technologies that benefit the county, government buildings, public lighting and educational facilities. Projects will then be designed and implemented to meet those needs.
“We are pleased to become a partner with the leaders of Macon County,” noted Maurice Stone, President of Sunrise Solar Corp. “We expect to expand this model of working closely with government leaders to municipalities across America.”
Addressing energy needs will include both improving energy efficiency in the county and bringing new alternative energy resources to the area. Funds are available from government sources, including the $800 Billion stimulus package to provide energy solutions that will reduce costs and dependence on foreign oil across America. Increasingly, municipalities are looking for ways to utilize these funds and further this goal.
The agreement is also a positive for Sunrise Solar, who stands to gain in several ways. Municipal and county projects face less competition than national projects, while government stimulus programs should help provide the financing necessary. However, Sunrise Solar hasn’t ignored the national scene either, as it met with leaders in Washington in April to identify specific demonstration projects related to its solar energy and alternative energy solutions.
In the end, this county agreement is a step in the right direction for Sunrise Solar as it focuses on expanding its footprint. Combined with national projects in development, traders and investors are betting that this stock has a lot of good news stored for the future. However, prudent investors may want to wait for some solid revenue figures and profitability before taking a significant stake in this alternative energy company.
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