Cleveland-based Preformed Line Products (PLP), a designer and manufacturer of products and systems for the energy market, has formed a new solar energy division with its acquisition of Direct Power and Water Corp. (DP&W), an Albuquerque, N.M.-based manufacturer and installer of solar power systems.
According to the companies, DP&W provides PLP with direct access to the growing renewable energy market and will be the foundation of the new solar division, PLP Solar. Kevin Goodreau, DP&W's president, and Jeffrey Randall, DP&W's vice president and director of engineering, will help launch PLP Solar.
‘Solar power generation continues to gain economic acceptance due to improved technology, rising costs of traditional energy sources and growing demand for energy independence,’ says Rob Ruhlman, PLP's chairman and chief executive officer. ‘We believe PLP can play a significant role in solar and other alternative energy markets as wireless power continues to grow.’