System Will Provide 10 Percent of Plant's Power
CAMDEN, N.J., Oct 19, 2011 (BUSINESS WIRE) -- Campbell Soup Company(NYSE: CPB) today announced that it has entered into a Power Purchase Agreement (PPA) and Land Lease Agreement (LLA) with American Capital Energy (ACE) to construct a 2.3 mega-Watt (MW) capacity PV solar power generation ground mount tracker system on 14 acres of the company's facility in Sacramento, Calif., which supplies Campbell's soups, sauces and beverages to ten western states and the Far East.
Campbell will lease the land to ACE, which will own the system and be responsible for its construction, operation and maintenance. Under the PPA, Campbell will purchase 100 percent of the electrical power generated by the system, which is expected to provide approximately 10 percent of the electricity the Sacramento Plant requires annually. The Sacramento Municipal Utility District (SMUD) will purchase the Solar Renewable Energy Credits from this project. Over the course of the 20-year PPA, Campbell projects savings of approximately $2,000,000 based on U.S. Department of Energy projections for the cost of electricity in California's Central Valley. The project will also eliminate approximately 58,000 metric tons of CO2 greenhouse gas emissions in the Sacramento region.
"With the signing of the agreement, the detailed design and construction of the system can now begin and we should be in operation by March of next year," said Robert Shober, VP - Engineering. "California has been a leading state in the adoption of solar technology and we are excited to be hosting this facility, which will contribute to the quality of life in Sacramento and the entire region."
"Campbell's decision to move ahead with this installation is another indicator of a strong future for on-site renewable power generation among major U.S. corporations," said Mike Hagan, Director, American Capital Energy. "This project provides further evidence that large energy users can take meaningful action to help their communities better meet their peak energy needs." Campbell previously announced plans to host a 60 acre, 9.8 MW solar panel array at a site adjacent to its Napoleon, Ohio production facility.
The Sacramento community should also reap environmental benefits from the project. "The planned solar array will benefit our many Sacramento neighbors. When completed, it will have the equivalent effect, in terms of reduction of carbon, of taking approximately 500 passenger cars off the road each year," said Brett Buatti, Vice President - Manufacturing at Campbell's Sacramento plant. "This project reaffirms Campbell's commitment to the Sacramento community and will help us continue to operate at world class manufacturing standards."
Campbell's Corporate Social Responsibility (CSR) strategies are intended to make positive impacts in four key areas: Our Consumers, Our Planet, Our Employees and Our Community. To learn more visit http://www.campbellsoupcompany.com/csr.
About American Capital Energy (ACE)
American Capital Energy is responsible for building two of the largest solar rooftops in North America - the Atlantic City Convention Center (2.4MW) and GlaxoSmithKline warehouse in York, PA (3MW). ACE's expertise also extends to building arrays over brown fields and landfills through a unique design. ACE was recently awarded an 18MW contract to build 9 of these on the Cape in MA. ACE has several solar arrays, using this unique design, that are already producing green energy for three utilities in the Northeast. The company is growing rapidly and has a backlog of over $250 million in projects at present.
Headquartered in Massachusetts, with offices across the country and in India. American Capital Energy provides full-service project development and construction services for large and medium-scale solar energy projects. ACE is committed to furthering the utilization of solar power by America's most forward thinking companies by offering customized solar photovoltaic systems designed for reliable long-term performance. http://www.americancapitalenergy.com
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 http://www.campbellsoup.com.
SOURCE: Campbell Soup Company
Campbell Soup Company
John Faulkner (Media)