EMCORE Corporation (EMKR) Announces Formal Agreement with PNM (PNM)
EMCORE Corporation (NASDAQ: EMKR) announced a formal agreement with PNM (NYSE: PNM) of New Mexico to participate in PNM's large distributed generation (DG) solar power program. This 20-year agreement with EMCORE consists of 114 kilowatts of solar power produced onsite at EMCORE's corporate headquarters in Albuquerque, N.M.
The power is generated by EMCORE's 2nd and 3rd generation concentrator photovoltaics (CPV) systems installed next to its headquarters' facility in Albuquerque, NM. The power is fed to EMCORE's buildings through a PNM-approved REC meter. Although over one-megawatt EMCORE's CPV systems have been deployed across seven sites throughout the world, this is the first DG application. [SM]
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