Pardee Resources Company: Solar PV Investment

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.

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SOURCE Pardee Resources Company