purpose of this equipment

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Do the wires go to a control box? A Search of that company comes up with system that adds metal (most likely copper) to the pool water.
They are not recommended and will eventually stain your pool surfaces. The metal is also what turns blonde hair green in swimming pools.
Read Metals - Further Reading
I suggest you read ABC's of Pool Water Chemistry.
 
Ugh! Marty beat me again!!

It's some sort of water purification device.


The SUPERIOR AQUA SYSTEM is an advanced electrolytic process that emits small amounts of copper and/or silver ions into the system for the purpose of bacteria, bio-film, and algae control, while reducing the hazards associated with chemical dosing. From the Agricultural spray system to the fruit wash systems the SUPERIOR AQUA SYSTEM can help save end user chemical costs and 20% to 50% of labor. The SUPERIOR AQUA SYSTEM is environmentally safe, user friendly, cost effective, is listed and certified by UL Laboratories.

With all circuit breakers off, you should unplug/disconnect whatever is attached to those two wires, then remove all that and the wires and remove it from your plumbing as well. Hopefully there is enough run of pipe somewhere above it to do that.
 

It's a copper ionizer. You can see the copper bars. The bottom part should unscrew from the T and you can screw in a 2" PVC plug.

 
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