Carport, Roof and Ground-Mount Arrays
Expected to Generate the Equivalent of 20 Percent of Campus’s
Electricity Demand
Upon Completion, System Will Become Largest
Solar Array in City of Camden, N.J.
Campbell Soup Company (NYSE:CPB), in partnership with BNB
Renewable Energy Holdings (BNB), SunPower Corp. (NASDAQ:SPWR), and
ORIX USA Corp. (TSE: 8591; NYSE: IX), broke ground today on a
4.4-megawatt (MW) solar power project at the company’s World
Headquarters in Camden, N.J. Scheduled to come online in fall 2017,
the system will provide energy to Campbell through a 20-year power
purchase agreement (PPA) and generate more than 5 million kilowatt
hours of electricity per year. Upon completion, the solar array
will become the largest in the city of Camden.
This Smart News Release features multimedia.
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Campbell Soup Company announces new
4.4-megawatt solar array at its World Headquarters in Camden, N.J.
(Photo: Business Wire)
The project, developed by BNB, will feature SunPower’s
innovative rooftop, carport and ground-mount solar solutions, which
are designed to optimize power production for commercial customers
like Campbell.
At Campbell’s 38-acre World Headquarters campus, 2.7MW will be
installed on the rooftops of existing structures and on new solar
canopies that will be erected in the parking lots. An additional
1.7MW will be installed on an adjacent 4.5-acre remediated
brownfield that BNB purchased specifically for the project, making
use of otherwise unusable land and increasing the capacity of the
system.
Under the 20-year PPA, Campbell will buy electricity generated
by the solar project at a predetermined rate. The fixed PPA rate,
which is currently lower than the cost of traditional electricity
for Campbell, provides the company with long-term visibility for
this portion of its electricity costs.
The system in Camden will be the third solar project that BNB
has developed for Campbell, following the 9.8MW system at
Campbell’s facility in Napoleon, Ohio, and the 1MW system at
Campbell’s Pepperidge Farm bakery in Bloomfield, Conn. Both of
those projects also use SunPower’s high-efficiency solar
panels.
“We’re excited to partner once again with BNB and SunPower to
add a third solar array to Campbell’s U.S. footprint,” said Jim
Prunesti, Vice President, Global Engineering, Campbell. “This
project contributes clean energy to the local grid and demonstrates
to our community the viability of renewable energy sources, all
while supporting Campbell’s sustainability strategy to deliver
long-term value to our business and neighborhoods.”
BNB and ORIX USA, a diversified financial company with a strong
commitment to renewables, will jointly own the project. The term
debt is being financed through PSE&G's Solar Loan Program.
“Bringing a cost-saving solar system to Campbell’s World
Headquarters marks a great moment, and we see a bright future for
other Fortune 500 companies who follow Campbell’s lead and turn to
renewable energy to stabilize energy costs and reap rewards from
the sun,” said Matthew Baird, managing partner of BNB. “We are most
proud of our collaborative work with Campbell, SunPower, ORIX, and
PSE&G to make this project a reality.”
The project will also feature five electric vehicle-charging
stations, provided by PSE&G via its EV Workplace Charging
Program, for use by Campbell employees.
“It’s an honor that Campbell and BNB have chosen SunPower once
again as a solar partner for this project,” said Nam Nguyen,
SunPower executive vice president. “We look forward to delivering
the highest quality experience through our innovative
solutions.”
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by its Purpose, “Real
food that matters for life’s moments.” The company makes a range of
high-quality soups and simple meals, beverages, snacks and packaged
fresh foods. For generations, people have trusted Campbell to
provide authentic, flavorful and readily available foods and
beverages that connect them to each other, to warm memories and to
what’s important today. Led by the iconic Campbell’s brand, its
portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8,
Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh
Gourmet. Founded in 1869, Campbell has a heritage of giving back
and acting as a good steward of the planet’s natural resources. The
company is a member of the Standard & Poor’s 500 and the Dow
Jones Sustainability Indexes. For more information, visit
www.campbellsoupcompany.com or follow company news on Twitter
via @CampbellSoupCo. To learn more about how we make our food
and the choices behind the ingredients we use,
visit www.whatsinmyfood.com.
About BNB
Founded in 2004, BNB Renewable Energy Holdings has developed and
constructed more than 600MW of wind and solar projects in North
America in the last 10 years, having arranged equity and debt
financings in excess of a billion dollars. With offices in New
York, Pennsylvania, and Texas, BNB has a three-year project
pipeline in excess of 1,500MW in North and South America,
comprising both distributed-generation and utility-scale renewable
projects. For more information, visit www.bnbrenewables.com.
About SunPower
With more than 30 years of proven experience, SunPower is a
global leader in solar innovation and sustainability. Our unique
approach emphasizes the seamless integration of advanced SunPower
technologies, delivering The Power of One® complete solar solutions
and lasting customer value. SunPower provides outstanding service
and impressive electricity cost savings for residential, commercial
and power plant customers. At SunPower, we are passionately
committed to changing the way our world is powered. And as we
continue shaping the future of Smart Energy, we are guided by our
legacy of innovation, optimism, perseverance and integrity.
Headquartered in Silicon Valley, SunPower has dedicated,
customer-focused employees in Africa, Asia, Australia, Europe,
North America and South America. Since 2011, we’ve been
majority-owned by Total, the fourth largest publicly-listed energy
company in the world. For more information,
visit www.sunpower.com.
About ORIX USA Corporation
Since 1981, ORIX USA has provided innovative capital solutions
that clients need to propel their business to the next level. Based
in Dallas, ORIX USA has a team of more than 700 employees spanning
nearly 20 offices across the U.S. and Brazil. ORIX USA and its
family of companies offer investment capital and asset management
services to clients in the corporate, real estate, municipal and
energy sectors, while holding $6 billion of assets and managing an
additional $29 billion, approximately. Its parent company, ORIX
Corporation, is a Tokyo-based, publicly owned international
financial services company with operations in 37 countries and
regions worldwide. ORIX Corporation is listed on the Tokyo (8591)
and New York Stock Exchanges (IX). For more information on ORIX
USA, visit www.orix.com.
About PSE&G
Public Service Electric and Gas Company (PSE&G) is New
Jersey’s oldest and largest regulated gas and electric delivery
utility, serving nearly three-quarters of the state’s population.
PSE&G is the winner of the ReliabilityOne Award for superior
electric system reliability. PSE&G is a subsidiary of Public
Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a
diversified energy company. For more information, visit
www.pseg.com or visit PSEG on Facebook; PSEG on Twitter; PSEG on
LinkedIn; or PSEG’s blog, Energize!
SunPower Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements regarding project
timelines, future projects, projected energy output, and cost
savings. These forward-looking statements are based on our current
assumptions, expectations, and beliefs and involve substantial
risks and uncertainties that may cause results, performance, or
achievement to materially differ from those expressed or implied by
these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to:
regulatory changes and the availability of economic incentives
promoting use of solar energy, challenges inherent in constructing
and maintaining certain of our large projects, and fluctuations or
declines in the performance of our solar panels and other products
and solutions. A detailed discussion of these factors and other
risks that affect our business is included in filings we make with
the Securities and Exchange Commission (SEC) from time to time,
including our most recent reports on Form 10-K and Form 10-Q,
particularly under the heading “Risk Factors.” Copies of these
filings are available online from the SEC or on the SEC Filings
section of our Investor Relations website at
investors.sunpowercorp.com. All forward-looking statements in this
press release are based on information currently available to us,
and we assume no obligation to update these forward-looking
statements in light of new information or future events.
SUNPOWER, the SUNPOWER logo, and THE POWER OF ONE are trademarks
or registered trademarks of SunPower Corporation in the U.S. and
other countries as well.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170517005861/en/
Campbell Soup CompanyThomas Hushen,
856-342-5227Thomas_hushen@campbellsoup.comorBNB Renewable
EnergyBrandon Wall,
212-366-4330bwall@bnbrenewables.comorSunPowerAmy Smith,
408-457-2718amy.smith@sunpower.comorORIX USA CorporationJeff Smith,
214-237-2301Jeff.smith@orix.com
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