Spire Corporation: Construction completed
Spire Corporation, a global solar company providing Engineering, Procurement and Construction (EPC) integration services for solar systems, and capital equipment and turnkey manufacturing lines to manufacture photovoltaic (PV) modules, announced its Spire Solar Systems business has completed construction of PV systems at two separate BJ’s Wholesale Club (BJ’s) locations in Massachusetts (MA) and began construction on two additional stores located in New Jersey (NJ).
The solar power systems will be located on the big box retail facilities owned by BJ’s in Ledgewood, NJ; Flemington, NJ; South Attleboro, MA and Leominster, MA. Electricity will be provided to BJ’s under a Power Purchase Agreement (PPA) with Tioga Energy.
PPA’s have become an important financial vehicle to make solar power plants a reality. They provide reduced energy cost and long term price stability from renewable energy sources to business operation. Spire Solar Systems fills the critical role of identifying and evaluating potential locations for solar; connecting a business with financial resources, such as PPA providers, and then providing the system design, and implementation expertise to realize successful projects.
The BJ’s system capacity is 1.6 megawatts, with the largest system made up of over 2,100 PV modules, producing nearly 540,000 kilowatt-hours of electricity each year. This is equivalent to powering over 50 homes. Spire Solar Systems has served as the EPC provider by completely designing and commissioning the systems. Solar World USA provided modules and installation services were contracted by Spire to KW Management and Gate City Electric.
Roger Little, Chairman and CEO of Spire Corporation, said, “We are pleased to have been selected by BJ’s and Tioga Energy to provide these cutting edge systems. The U.S. is rapidly becoming the largest market in the world for photovoltaics and we intend to be a significant player. The PV systems business also complements our turnkey module line customers by providing them with an outlet for the modules that they produce.”
About BJ’s Wholesale Club
BJ’s Wholesale Club is dedicated to providing members with top-quality, brand-name merchandise at prices significantly lower than supermarkets, supercenters, department stores, drug stores and specialty stores.
About Tioga Energy
Tioga Energy owns and operates renewable energy systems that provide government and commercial organizations a hedge against energy price volatility and accelerates their access to clean energy without any capital outlay.
About Spire Corporation
Spire Corporation, voted 2009’s Turnkey PV Manufacturing Line Company of the Year, is a global solar company providing EPC integration services for solar systems, and capital equipment and turnkey production lines to manufacture PV cells and modules.
Certain matters described in this press release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.
Roger G. Little, 781-275-6000
Chairman & CEO