December 29, 2010
Solar Power, Inc. announced today that it has entered into a contract to design, engineer, and construct a five-megawatt rooftop system for installation on the expansive White Rose, Inc. distribution warehouse located in Carteret, New Jersey and owned by private equity firm KTR Capital Partners. NuGen Capital Management, LLC (“NuGen”) and KDC Solar LLC, (“KDC Solar”) who have formed a joint venture to own and operate the system, selected Solar Power, Inc. for the Engineering, Procurement and Construction (EPC) of the project. In addition to performing as EPC contractor, Solar Power, Inc. will also monitor and service the power plant once completed. The system will feature Solar Power, Inc.’s SkyMount® racking system and the Company’s solar modules.
“This is a significant project for us,” said Steve Kircher, Chairman and CEO of Solar Power, Inc. “The White Rose installation will be one of the largest systems of its type in the nation. More importantly, the project allows us to continue to develop our presence and portfolio in the Northeastern U.S. It also provides our Company the opportunity to showcase the unique talents and abilities we offer - it’s a perfect fit for our products and our system design and construction expertise. We look forward to working with NuGen and KDC Solar as the project commences,” Mr. Kircher concluded.
“A project of this scope and scale requires a significant amount of research and due diligence on behalf of everyone involved. Ultimately, Solar Power, Inc.’s highly adaptable SkyMount® racking system coupled with its track record in the solar industry made a big difference,” said David Milner, CEO for NuGen, the project developer. “I am pleased to be working with Solar Power, Inc., and look forward to a continued relationship as NuGen develops additional opportunities throughout the Northeast.”
The White Rose Food building is located in Carteret, New Jersey and serves as White Rose Food’s corporate offices and as a major hub in its distribution network. White Rose Food serves supermarket chains, independent retailers and members of voluntary cooperatives, providing more than 18,000 food- and non-food products to more than 1,800 stores from Maryland to Connecticut. The company is the largest independent wholesale food distributor in the New York City and New Jersey metropolitan areas, which make up the biggest consumer market in the United States.
The project is scheduled to begin in January, 2011 and conclude early in the second half of the year.