Campbell Soup (NYSE:CPB) has a 9.8 MW solar array under construction at its Napoleon, Ohio manufacturing plant. When it’s finished this year, it will supply 15% of the plant’s electricity.
Cambell’s is buying all the electricity from the 60-acre project, which is being installed by BNB Renewable Energy Holdings and Enfinity America Corp. FirstEnergy Solutions (Akron, Ohio) will purchase the Solar Renewable Energy Credits from the project. SunPower (Nasdaq: SPRWA) is supplying the solar panels.
This is the first of many joint projects for Enfinity and BNB. Enfinity will arrange project financing co-manage the installation, contracts and future operations with BNB.
“The construction of this facility marks a turning point towards larger on-site renewable generation in the USA,” says Matthew Baird, a principal and founder of BNB.
Enfinity’s ability to quickly deploy capital will allow BNB to accelerate its pace of development.