Thursday, June 21, 2012
"This system is a milestone achievement that will reduce Campbell's operational expenses while generating clean, renewable power that contributes to the environmental health of our friends and neighbors in Napoleon and across Northeast Ohio," said Dave Stangis, Campbell's vice president of corporate responsibility and public affairs. "Campbell is committed to managing our environmental resources with tangible initiatives that produce measurable results."
BNB Renewable Energy Holdings (BNB) developed the project from its inception in 2009 in partnership with Campbell. A key to the project's success is a power purchase agreement (PPA), which guarantees that Campbell will buy 100 percent of the energy generated by the photovoltaic (PV) array. Additionally, BNB secured an agreement with FirstEnergy Solutions, which contracted to purchase all of the solar renewable energy credits and environmental benefits associated with the project.
Enfinity co-developed the project with BNB, arranging term financing for the project with Wells Fargo and working with BNB to manage the engineering, procurement and construction (EPC) contract with SunPower. With the closing of financing and the completion of the purchase, Enfinity, working with BNB, will provide operating and maintenance services for the life of the system.
Matthew Baird, a principal and founder of BNB said, "BNB and Enfinity have shown what's possible when focused development expertise meets a ready source of funding. 2012 is going to see more of these solar success stories."
Enfinity America Corporation CEO Rafael Dobrzynski said, "Large-scale distributed generation installations like this will be an important part of the way forward for Enfinity, and indeed the solar industry as a whole. More and more commercial and industrial companies are seeing that on-site solar energy is a viable business proposition and a brand-builder, as it shows a commitment to sustainable energy. Importantly, our access to rapidly deployable capital means we can accelerate the pace of development without relying on the federal cash grant."
At the 60-acre site, SunPower designed and installed the SunPower Oasis™ system using high-efficiency SunPower solar panels with the SunPower® T0 Tracker system. The Tracker follows the sun's movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land use requirements. The 9.8MW array was commissioned December 30, 2011.
"SunPower's proven T0 Tracker delivers the highest energy production per acre for solar power plants, reliably maximizing savings on electricity costs for the next 20 years or more," said Howard Wenger, SunPower president, regions. "We applaud the serious commitment made by Campbell and its development partners, which will deliver long-term financial and environmental benefits."
The solar project in Napoleon is the latest step in Campbell's journey to supporting renewable energy development. By 2020, Campbell aims to reduce energy use by 35 percent per ton of product produced and source 40 percent of the energy used by the company from renewable or alternative energy sources.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including "Campbell's," "Pepperidge Farm," "Arnott's" and "V8." Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoup.com.
Founded in 2004, BNB Renewable Energy Holdings has developed and constructed 190 MW of wind and solar projects in North America. With offices in New York, Pennsylvania, and Texas, and over 200,000 acres under lease, BNB has a 3 year project pipeline in excess of 900MW in North and South America, BNB is active in both distributed generation and utility scale renewable projects. For more information, visit www.bnbrenewables.com.
Founded in 2005, Enfinity is an established leader in renewable energy (the sixth largest in the world in its sector), with operations in Europe, North America and Asia-Pacific. The company finances, develops and builds solar PV projects and also owns its own portfolio of renewable energy installations. Enfinity has been selected to build some of the largest renewable energy projects across the globe, with 200 MW installed and operational worldwide. Further information is available at www.enfinitycorp.com
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpowercorp.com.
About FirstEnergy Solutions
FirstEnergy Solutions, a subsidiary of FirstEnergy Corp., is one of the nation's largest providers of competitive electric generation supply, serving more than 1.5 million residential and small business customers in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.
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