BEDFORD, Mass., Apr 19, 2010-Spire Corporation (Nasdaq: SPIR), 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 today 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.”