Emcore to supply Pod Generating solar projects

Albuquerque, N.M.-based Emcore (Nasdaq: EMKR) said today it signed a memorandum of understanding to supply 60 megawatts of solar power systems to Sault Ste. Marie, Ontario's Pod Generating Group.

Financial terms of the deal were not disclosed.

Emcore said it would supply and install modules in the Sault Ste. Marie area using concentrating photovoltaic systems developed at its Albuquerque facility starting in mid-2008.

"We are very pleased to receive the opportunity to deploy our first order of utility-scale solar power systems in support of PGG's projects in Ontario," said Earl Fuller, general manager of Emcore's Solar Power Systems division.

"Emcore's CPV systems are optimized for the lowest cost-per-watt of any utility-scale photovoltaic power system."

Pod Generating group has contracts with the Ontario Power Authority for six 10 MW solar projects, with each one to be installed over the next three years.

Pod Generating has a 20 year power purchase agreement with the power authority for each of the projects.

Emcore said it's in in discussions to set up a manufacturing plant in the Sault Ste. Marie area to supply the local demand as volume ramps up.