The Peck Company (NASDAQ:PECK) is leading solar stocks news on Wednesday with an expansion into Rhode Island.
According to a recent news release, The Peck Company has signed a 5.3MW contract that will have it working with a long-time customer in the state. The solar company notes that the total value of this deal is $7.256 million.
The Peck Company doesn’t reveal who the customer behind this project is. However, it does point out that it plans to complete the project in the first quarter of 2021. That’s good news for solar stocks as it shows the expansion into the Northeast is going well.
Jeffrey Peck, chairman and CEO of The Peck Company, said the following about the solar stocks news.
“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.”
The Peck Company points out that this expansion comes after recently announcing another deal in Maine. Expansion into the Northeastern part of the U.S. is one of the company’s main goals since going public last year.
The Peck Company is a solar power company based out of South Burlington, Vt. It was founded in 1972 and is a family-owned company. Its offerings include solar power services for both commercial and residential customers.
PECK stock was up 50.4% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
