09 January 2012

Saginaw Too Expensive for Solar Firm

First appeared in Contra Costa Times
The chief executive of a San Jose-based solar power company says a lack of market demand and costs to operate its Saginaw plant led to its decision to relocate to the northern part of Michigan's Lower Peninsula.

The Saginaw News reported Friday that GlobalWatt Inc. CEO Sanjeev Chitre held a news conference in Saginaw County's Kochville Township to discuss cancelling plans to stay and grow in the area.

Chitre says GlobalWatt would have paid $35,000 a month for the Saginaw location. It has moved equipment to a renewable energy product maker in Copemish, about 25 miles southwest of Traverse City.

He called it a "manufacturing partnership."

Chitre says GlobalWatt hasn't received taxpayer money and could return to Saginaw if the market grows and prices stabilize for solar panels.

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