Broadway Electrical, a full-service electrical construction company that works on solar projects, is closing its doors. The business, located in Boston, stopped working on its projects a couple of weeks ago, and The Cape Cod Times has since reported that the company is, in fact, going out of business.
"As you may have heard, after a proud 77-year history, Broadway Electrical Co., Inc. is in the process of winding down its operations and will be closing the business," Broadway CEO Lawrence Hurwitz wrote in an emailed statement.
Broadway Electrical was selected last spring to finance, design, install, operate and maintain 27 PV systems throughout Cape Cod and Martha’s Vineyard. The PV systems were to provide Cape and Vineyard municipal entities electricity at a defined — fixed for 20 years — per kWh rate, helping to protect the town’s budget from future volatile energy prices.
Hurwitz wrote that Broadway officials continue to believe the projects the company is building for the Cape and Vineyard Electric Cooperative are viable, but referred questions about them to cooperative officials, according to the Cape Cod Times.