McCormick Adds Solar to its Energy Supply
October 10 2008 - 10:00AM
Business Wire
McCormick & Company, Incorporated (NYSE:MKC) today announced
that it has signed an agreement with Constellation Energy�s
Projects & Services Group, a subsidiary of Constellation Energy
(NYSE:CEG), under which Constellation Energy�s Projects &
Services Group will construct an approximately one megawatt solar
power system at McCormick�s Spice Mill and Distribution Center in
Hunt Valley, Md. McCormick will purchase the electricity generated
from the system. The spice mill is important globally for McCormick
as it is the company�s largest milling and grinding facility. �This
solar power system is another tangible sign of our commitment to
sustainability,� stated Alan Wilson, McCormick�s President &
CEO. �The project will allow us to both reduce our energy costs
while providing renewable energy to Maryland electricity customers.
It is a win-win for the environment and our company. More than
ever, businesses must be mindful of community impact. At McCormick
we consider it a core value.� The installation will feature
approximately 80,000 square feet of thin-film solar
material�lightweight, flexible photovoltaic material that can be
easily applied directly to existing rooftops�that is expected to
generate 500 kilowatts of electricity. An additional 500 kilowatts
of electricity is expected to be generated by approximately 2,800
Solar World 175 watt crystalline solar panels. Constellation
Energy�s Projects & Services Group estimates that the project
will reduce greenhouse gas emissions by almost 1,000 metric tons
annually and reduce McCormick�s electricity costs for this facility
by approximately 30 percent in the first year alone. The energy
supplied by this project annually is expected to be equivalent to
the electricity used by 110 homes in a year. �On-site solar power
installations provide reduced energy costs and long-term price
predictability, from a clean, renewable power source,� said Greg
Jarosinski, President and CEO of Constellation Energy�s Projects
& Services Group. �Constellation Energy provides the right mix
of financial and construction experience to customize renewable
energy projects that fit customers� operational and fiscal needs.�
As part of this project, Constellation Energy�s Projects &
Services Group will own the energy assets and sell the electricity
it generates on site to McCormick & Company under a 20-year
power purchase agreement. This structure enables organizations to
undertake renewable energy generation with no upfront capital
expenditure. Constellation Energy�s Projects & Services Group�s
comprehensive approach to on-site solar power projects provides
customers with a single-source renewable energy partner, from
project planning through long term power supply. About McCormick
McCormick & Company, Incorporated is a global leader in the
manufacture, marketing and distribution of spices, seasonings and
flavors to the entire food industry - retail outlets, food
manufacturers and food service businesses. As a business that
depends on agriculture for much of our products, we are mindful of
our environmental impact. More information can be found at
www.mccormick.com. About Constellation Energy�s Projects &
Services Group Constellation Energy's Projects and Services Group
(www.ceprojects.com) is the energy services arm of North America's
largest retail and wholesale energy company, Constellation Energy
(NYSE:CEG). Serving business and institutional customers
nationwide, Constellation Energy's Projects and Services Group
specialize in financial and environmental solutions that can
significantly reduce energy consumption and costs. Constellation
Energy's Projects and Services Group delivers the technical
expertise to develop large scale energy projects, such as solar,
biomass and geothermal projects and on- or off-site power
generation systems. The company also designs and implements full
energy system retrofits that save energy and reduce harmful
emissions.
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