Campbell’s Soup Signs 10 MW Solar PPA
Campbell Soup Company has finalized a power purchase agreement (PPA) and land lease arrangement to construct a 60-acre, 9.8 MW photovoltaic system at the companyâ€™s largest plant.
BNB Renewable Energy Holdings is to build the 24,000-module system at Campbellâ€™s Napoleon, Ohio factory. The project, which was unveiled late last year, is expected to provide about 15 percent of the plant’s annual electricity use.
Over the course of the 20-year PPA Campbellâ€™s will save about $4 million dollars, Â based on U.S. Department of Energy projections for the cost of electricity in northwest Ohio, the company said. The system is also projected to eliminate about 250,000 metric tons of CO2.
The array is partly funded by $10.5 million in bonds from the state-run Ohio Enterprise Bond Fund. The Toledo Blade has reported the total cost as $21.6 million.
Campbellâ€™s says construction will begin in early June and the system should be operational by the end of the year. The project will create more than 200 construction jobs, Campbellâ€™s said.
According to Campbellâ€™s recent corporate social responsibility report, the company has set a goal to obtain 40 percent of its energy use from renewable or alternative energy sources by 2020.
The companyâ€™s sustainability efforts have helped Campbell Soup rank in the top-ten in a corporate social responsibility index in 2009.
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