Thursday, February 24, 2011

Campbell Soup Unveils Solar Power Station Plans

Campbell Soup Company has unveiled plans to set up a solar power station at one of its US factories. The group has entered into a Power Purchase Agreement (PPA) and Land Lease Agreement (LLA) with BNB Napoleon Solar, a wholly owned subsidiary of BNB Renewable Energy Holdings, to construct a 9.8 megawatt (MW) capacity PV solar power generation system on 60 acres of its largest plant in Ohio.

Under the terms of the agreement, Campbell will lease the land to BNB, which will own the system and be responsible for its financing, construction, operation and maintenance. The PPA commits Campbell to purchasing 100 % of the electrical power generated by the system, which is expected to provide approximately 15% of the electricity the plant requires annually.

FirstEnergy Solutions will purchase the Solar Renewable Energy Credits from the project. Over the course of the 20-year PPA, Campbell estimates it will save up to $4m dollars based on U.S. Department of Energy projections for the cost of electricity in Northwest Ohio.

The project will also eliminate approximately 250,000 metric tons of CO2 greenhouse gas emissions in the region.

"With the signing of the agreements, the detailed design and construction of the system can now begin and we should be in operation by the end of this year," said Robert Shober, vice president, engineering.

When completed the facility will comprise approximately 24,000 high efficiency solar modules, making it one of the largest such systems in the United States.

The State of Ohio demonstrated its support in October when the Ohio Enterprise Bond Fund agreed to issue $10.5m in bonds to finance a portion of the project.

"This project represents the beginning of a strong future for on-site renewable power generation among major US corporations," said Matthew Baird, a principal and founder of BNB Renewable Energy Holdings.


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