Sun Pacific Holding Company, Inc. (OTC: SNPW) is a diversified holding company in the emerging, multibillion-dollar renewable energy sector. SNPW uses management's knowledge and experience to deliver value for customers and shareholders through quality service and equipment. The SNPW business plan is closely aligned with helping to develop smart clean, renewable energy solutions for a sustainable future and for protecting our environment.
SNPW has an agreement in place with world-renowned FoxESS to market inverters and batteries and energy management devices throughout North America, South America, and Australia. SNPW also has an agreement with long-established Marine Electric, Inc. to service the FoxESS products as needed.
The North American battery market was valued at USD 22.51 billion in 2020, and it is anticipated to reach USD 53.84 billion by 2027. To learn more about the SNPW partnership with FoxESS visit this web link https://sunpacificpower.com/fox-ess/.
SNPW has a US-based solar products manufacturing plant in development which will be a wholly owned subsidiary operating company called Elba Power Corp (EPC).
On June 2, 2023, SNPW CEO Nick Campanella sat down with Corporate Ads to conduct the following detailed interview. This transcript is exclusive to the distribution of the Corporate Ads awareness program.
Corporate Ads: Please tell us what are the primary renewable energy projects which SNPW is currently focused on.
Nick Campanella: SNPW is developing Elba Power Corp, a solar manufacturing factory project planned for Elba, Alabama. Additionally, our solar products sales team has started working on solar and battery sales and marketing. This effort has a sales cycle that should be starting in 30 to 60 days. We will be using 3rd party products and licensed EPC technicians to do these installations and eventually be able to pivot to our own manufactured products. This will give SNPW a substantial advantage in being able to use our own panels for our own sales. We also have an active and current LOI for close to 750MW of pre-orders once we get started and we are working on providing OEM or partner panels in the meantime. So, we are in a great position to start a high volume flow of products to our customers.
Corporate Ads: What financial assistance is on the table for the SNPW Elba, AL solar manufacturing plant?
Nick Campanella: SNPW has several options currently set up. We are looking to close on debt or minimal equity positions while using State Inducement Resolution bonds as leverage for securing capital loans from one of our financial institutions who has provided term sheets.
Corporate Ads: Why did you select Elba, Alabama as the location for the SNPW solar products manufacturing plant to be built?
Nick Campanella: We originally were looking at Texas as our plan for manufacturing and decided to search other properties since Texas was 5 times more expensive and the state did not offer us any incentives. We were fortunate enough to find the property in Elba, where the State of Alabama offered SNPW a 100% tax abatement on sales and use tax as well as a 50M Inducement Resolution. This would allow us to refinance or take out debt funding with a 20-year bond.
Our process was to follow these steps:
Develop our plan for the market.
Design a financial model.
Build our team.
Select the right property.
Work with state and local authorities.
Seek incentives and rebates, which we could not do until we had a facility selected.
Source equipment and design a facility with engineers and architects.
Obtain an insurance wrap to protect our investors.
Sign a purchase agreement.
Arrange a closing date once all is approved.
Corporate Ads: What is the projected revenue generation for the Elba, AL plant?
Nick Campanella: We are expecting sales to be around 450-500M per year as well as an additional incentive through the federal government rebate program for another 7 cents per watt of electricity we produce. The SNPW design team has put together two lines for the production of Perc and Topcon which we have been looking forward to. These products will provide us with the newest and highest efficiency panels manufactured in the USA. Each line has a capacity of 500MW with a maximum output based on efficiency for both lines to produce 1.2GW per year. We have been working to source as many products in the USA as we can, such as glass and aluminum frames. We also want to keep traceability of all products to show their origin, as well as cells and use products from our established associates in Vietnam.
Corporate Ads: What incentives is SNPW receiving and offering for its solar products business plan?
Nick Campanella: As I mentioned previously, we received a sales and use tax incentive for 100% tax-free and an inducement resolution for 50M. SNPW is also sponsoring a new Solar Advocate Program open to anyone with a $1,000 incentive for successful referrals that lead to a sale. There is information about this offer on our website for anyone who is interested in participating.
Corporate Ads: What is the current status of the SNPW relationship with FoxESS?
Nick Campanella: SNPW has very strong connections and team leaders that we work with at FoxEss. In the beginning when we announced our partnership they had just started to entertain working in the USA and we decided to help them by doing some research and testing with their team and our team to make sure the products would be applicable in the US market. We also helped with testing and installation to make sure all was correct. They then applied for a UL certification and had received final approval in the beginning of the year. After this SNPW started working on developing our sales team for active marketing. FoxEss has developed its own US representatives and entity to be able to operate in the USA. The SNPW team has strong relations with FoxESS and we are now in the process of bringing in inventory as well as getting them set up for bank approval of their product when homeowners are looking to finance their installations.
Corporate Ads: What renewable energy products does SNPW offer right now?
Nick Campanella: SNPW offers LED lighting through private labeling as well as solar panels through affiliate partners. Plus, advanced battery products and inverters are very much in demand today.
Corporate Ads: Is there a future for the SNPW MedRecycler project?
Nick Campanella: We have not taken that project off the table but we did not renew MedRecycler LLC since it was a non-entity holding company. After the Rhode Island State changes we decided to let that non-renew. MedRecycler-RI Inc was removed from SNPW when we could not obtain a state bond unless we removed it from the SNPW business plan. For doing that we provided a 51% profit participation rights agreement with no liabilities or expenses to the company. We have since settled all our debts and obligations for that entity which did not impact SNPW with any legal or financial burdens.
Corporate Ads: Are plans still going forward for the Durango, Mexico solar project?
Nick Campanella: We had all funding lined up and property and designers/EPC prepared. When we were ready to proceed the Mexican government made some drastic changes to the rule for 3rd party power generation which made our funders and banks BBVA concerned and so the project was put off for now. SNPW may entertain this opportunity again when the Mexican administration changes their regulations.
Corporate Ads: Are SNPW plans for solar projects in Australia still a possibility?
Nick Campanella: For Australia, SNPW started to work with local EPC and developers to build facilities such as solar or waste-to-energy facilities which are still in our horizon. We are still working with our partners there and also with local government which I have met with in person to find the best opportunities for us.
Corporate Ads: What has SNPW management directly invested in or loaned to the company to date?
Nick Campanella: We have invested an excess of 2M from related parties such as myself as well as deferred my salary.
Corporate Ads: What does SNPW management take as yearly compensation?
Nick Campanella: Right now, the CEO salary is being deferred to a later date in order not to affect or add pressure to the company. When we had close to 50 employees on the payroll and generating income, CEO salary was also deferred.
Corporate Ads: Thank you, Sun Pacific Holdings CEO Nick Campanella. This has been a very informative interview. We look forward to speaking with you again in the future as all of the SNPW plans progress.
For More Information on SNPW Visit https://sunpacificholding.com/
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Media Contact
Company Name: Sun Pacific Holding Company, Inc.
Contact Person: Nicholas Campanella, CEO
Email: Send Email
Phone: 732-845-0906
Address:345 Highway 9 South Suite 388
City: Manalapan Township
State: New Jersey
Country: United States
Website: www.sunpacificholding.com
