Fifth Third Bank Achieves 100% Renewable Energy With New Solar Plant
August 29 2019 - 10:22AM
Dow Jones News
By Dieter Holger
Fifth Third Bancorp (FITB) said Thursday that it has powered up
one of the largest solar projects in the U.S., which will generate
at least as much energy as the bank uses in a year.
The Aulander Holloman Solar Facility in Hertford County, North
Carolina, built by developer SunEnergy1, provides enough energy to
power 25,000 homes, the equivalent of removing 143,000 metric tons
of greenhouse gases a year.
Across 1,400 acres, the facility hosts more than 350,000 solar
panels and generates 202,000 megawatt hours of electricity per
year.
Fifth Third is the first Fortune 500 company to power up a
single solar project that achieves 100% renewable power for a
company, said Greg Carmichael, president and chief executive at the
bank.
The project was part of the virtual power purchase agreement
that Fifth Third made in March 2018. As a result, Fifth Third said
it has achieved its 2022 goal of complete renewable power three
years ahead of schedule.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
August 29, 2019 10:07 ET (14:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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