NORWALK, CONN., April 7, 2015 - Campbell Soup Company (NYSE:CPB) , in partnership with BNB Renewable Energy Holdings and SunPower Corp. (NASDAQ: SPWR), today announced that a 1-megawatt (MW) solar array at its Pepperidge Farm bakery in Bloomfield has officially come online. Commercial operation for the solar array, which is generating the equivalent of 15 percent of the bakery's annual energy demand, began on Dec. 26, 2014.
The ground-mounted, fixed-tilt array comprises 2,720 high-efficiency SunPower solar panels and sits on five acres of land leased from Pepperidge Farm. In its first year, the array is projected to produce more than 1.7MM kilowatt-hours of electricity.
The solar array in Bloomfield is the second largest to be installed at facilities owned by Campbell, Pepperidge Farm's parent company, and it is one of the very few solar arrays operating at manufacturing sites in the industry. The Bloomfield array marks the latest step in the company's sustainability initiatives to support the use of renewable energy. By 2020, Campbell aims to reduce energy use by 35 percent per ton of product produced and source at least 40 percent of the energy used by the company from renewable or alternative energy sources.
"We have been proud to work with our partners BNB and SunPower, along with the town of Bloomfield, to complete construction of this renewable installation," said Harry Pettit, Manager of Systems and Infrastructure Engineering at Pepperidge Farm. "Pepperidge Farm has agreed to purchase the equivalent of 100% of the electricity produced by the system for 20 years. These efforts are part of Campbell's long-term strategy to cut the environmental footprint of our product portfolio in half and deliver long-term value to our business and the communities where we live and work."
Pepperidge Farm and BNB Renewable Energy Holdings (BNB), its corporate partner on renewable projects, began development of the project in 2012. A key to the project's success is a power purchase agreement (PPA) under which Pepperidge Farm buys electricity at rates that are competitive with retail electricity, providing a hedge against rising electricity rates while supporting renewable energy development. Through the state of Connecticut's Low and Zero Emissions Renewable Energy Credit Program, administered by Eversource Energy (formerly Connecticut Light & Power) and the United Illuminating Company, BNB secured an agreement with Eversource for the utility to purchase the solar renewable energy credits and environmental benefits associated with the system.
SunPower, a leading global solar technology and energy services provider, provided engineering, procurement and construction services for the project, and the project was financed through PNC Energy Capital, LLC. With the closing of financing, SunPower, working with BNB, will provide operations and maintenance services for the life of the system.
BNB and SunPower previously collaborated with Campbell on a 9.8MW solar array at Campbell's production facility in Napoleon, Ohio. That solar array, which provides the equivalent of about 15 percent of the Napoleon plant's total annual energy draw, came online in December 2011.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, "Real food that matters for life's moments." The company makes a range of products from high-quality soups and simple meals to snacks and healthy beverages. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories, and to what's important today. Led by its iconic Campbell's brand, the company's portfolio includes Pepperidge Farm, Goldfish, Bolthouse Farms, V8, Swanson, Prego, Pace, Plum Organics, Arnott's, Tim Tam, Royal Dansk and Kjeldsens.Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet's natural resources. The company is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes.www.campbellsoupcompany.com or follow company news on Twitter via@CampbellSoupCo.
About BNB Renewable Energy Holdings
BNB Renewable Energy Holdings, with offices in New York City, Boston, Austin, Texas, and Exton, Pa., is a developer of both distributed-generation and utility-scale wind, solar, and biogas power plants and has developed and constructed nearly 500MW of renewable generation throughout the United States. BNB is actively developing more than 1GW of generation, including utility-scale wind and solar in Texas and Mexico and several inside-the-fence renewable projects for Campbell Soup, Pepperidge Farm, and other Fortune 500 companies. For more information, visitwww.bnbrenewables.com.
About SunPower
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on SunPower's 30 years of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North and South America, Europe, Australia, Africa and Asia.www.sunpower.com.
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