Renewable Energy Firm in Rhode Island Acquires Massachusetts Peer
By Lee Howard, The Day, New London, Conn.
Jan. 9–SolarWrights of Bristol, R.I., which markets its renewable-energy designs across southeastern Connecticut, has acquired Kosmo Solar Inc., an alternative-energy solutions provider in Springfield, Mass.
“This is our first acquisition and represents a milestone in the planned expansion strategy for SolarWrights,” said company chairman Steve Townsend in a statement. “We anticipate a seamless fusion of operations.”
“The talent and expertise of Kosmo Solar is very impressive,” added SolarWrights’ president and founder, Bob Chew. “The acquisition will expand SolarWrights’ sales and delivery organization.” Besides its Bristol, R.I., headquarters, SolarWrights also has a local office in Stonington.
Kosmo Solar’s founder and president, Mike Kocsmiersky, will stay with the combined company to become vice president of research and development, as well as continuing as general manager of the Springfield office.
“The location of the Springfield office is ideal because it will better enable us to serve customers in central New England,” including Connecticut, said Mark Nelson, vice president of business development for SolarWrights.
SolarWrights’ most notable project in this area involved installation of a solar panel system at Pine Point School in Stonington, which saves the school about 10 percent off its energy bills. The solar panels were installed with a $286,000 grant from the Connecticut Clean Energy Fund.
Another local SolarWrights project involved the installation of solar panels at Langworthy Farm in Westerly at a cost of more than $80,000. Most of the cost was borne by the now-defunct Rhode Island Renewable Energy Fund.
Chew, the company founder, said other projects are in the works in southeastern Connecticut, though no contracts have yet been signed. A lot of the company’s success, he said, has revolved around its Connecticut operations, which are booming, while Rhode Island business has stagnated.
“You have a much better economy in Connecticut,” he said.
State homeowners have been attracted to SolarWright because of high-energy costs, worries about global warming and concerns over reliance on foreign oil, he said. In addition, the Connecticut Clean Energy Fund has continued to push alternative energy while Rhode Island, with a $500 million deficit, has dropped its programs.
SolarWrights provides photovoltaic, solar thermal and wind systems throughout New England. The company hit a trifecta recently when it won the 2007 “Excellence in Entrepreneurship” award from Providence Business News, which also named it as one of the fastest growing private businesses in Rhode Island and one of the best places to work in the state.
For more information, call 401-396-9901, e-mail info@solarwrights.com or visit its Web site www.solarwrights.com.
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