Gap To Install Solar Power System

October 16, 2007

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Gap Inc. plans to install a one megawatt solar power system at its West Coast distribution center in Fresno, Calif. Slated for completion next year, the system is expected to generate approximately 1.9 million kilowatt-hours annually – equivalent to the electricity required to power approximately 350 homes.

The system will occupy five acres of land adjacent to Gap Inc.’s distribution center campus and will be financed, owned and operated by MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity, LLC. Under the terms of a long term Power Purchase Agreement, Gap Inc. will buy predictably priced power from MMA Renewable Ventures for the next 20 years, shielding the company from rising energy costs.

“Our decision to host a solar power system at our distribution center is a key part of our commitment to reducing our impact on the environment and finding better ways to do business,” said Kindley Walsh Lawlor, senior director of strategic planning and environmental affairs for Gap Inc. “The solar installation represents a significant effort to support the development of additional solar capacity in California.”

Developed in part with 3 Phases Energy, MMA Renewable Ventures contracted with Silicon Valley-based SunPower for the system design and construction which will incorporate more than 5,000 panels on a mounted track.

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