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Governor Corzine Tours Petra Solar
Company to expand and create 100 jobs
SOUTH PLAINFIELD - Praising the company for its ingenuity and innovation, Governor Jon S. Corzine today toured the facilities of Petra Solar, a company that produces SunWave, a pole-mounted, grid-connected photovoltaic generation system.
"Petra Solar's expansion plans and job creation epitomize my vision for our future," Governor Corzine said. "This is a company creating jobs in New Jersey by manufacturing products that I'm confident will be sold all over the world to generate renewable energy and reduce greenhouse gas emissions."
The Governor said New Jersey's private-sector companies added 13,000 jobs in July and renewable energy projects such as Petra Solar will continue that job growth momentum.
Petra Solar was recently was awarded a contract by PSE&G for 200,000 SunWave units, which will be mounted on utility and street light poles to increase PSE&G's solar generation. The contract is expected to result in over 100 new jobs at Petra Solar over the coming year and, with financial assistance from the state, the company is expanding its facilities to meet the growing demand for its product.
"We at Petra Solar are proud to have Governor Corzine join us as we begin fulfilling our first major contract," said Shihab Kuran, President and CEO of Petra Solar. "The Governor's support for our business through New Jersey's Economic Development Authority has given us the resources we need to grow our business, expand our facilities and hire new employees."
"This program is part of our Solar 4 All initiative recently approved by the Board of Public Utilities" said Ralph LaRossa, PSE&G president and COO. "It will bring the benefits of solar energy to every community we serve while also creating much-needed green jobs in manufacturing and installation. PSE&G programs to promote energy efficiency, develop renewables and accelerate infrastructure investments are putting hundreds of New Jersey residents to work at this critical time."
Earlier this year, Petra Solar received the first grant under New Jersey's Clean Energy Manufacturing Fund (CEMF), a new initiative funded by the New Jersey Board of Public Utilities and administered through the New Jersey Economic Development Authority. The company received a total of $3.3 million through the CEMF to support the purchase of equipment and machinery and the planning/design process. Petra expects their growth will result in a total public/private investment of more than $7.6 million and the creation of more than 100 new jobs over the next two years.
The U.S. Department of Energy also recently announced that Petra would receive a grant of up to $2.9 million to work on solar grid integration projects with the University of Central Florida (Orlando, FL) and fifteen electric utilities with service in New Jersey, Pennsylvania, Ohio, Delaware, Maryland, District of Columbia, Florida and Texas.
"Petra's growth, and the growth of companies like Petra, is what will drive our economic recovery here in New Jersey and help the world address the challenge of global warming," added Governor Corzine. "These are the types of businesses I'm proud to support. They will help us build a sustainable economy and put our people back to work."
About Petra Solar:
Petra Solar, founded in 2006 by CEO and President Dr. Shihab Kuran, is the pioneer of grid tied, pole mounted, distributed solar generation systems. The SunWave™ system combines solar energy with smart grid communications and electric grid enhancement functions to create a comprehensive utility grade solution for utilities.
For more information, see www.petrasolar.com.
Media queries, please contact Becky Taylor becky.taylor@petrasolar.com