Ecolab to Offset its Electricity Use in Minnesota through SunEdison Community Solar Gardens
ST. PAUL, Minn. and BELMONT, Calif., Jan. 15, 2015 /3BL Media/ - Ecolab Inc. is the first major corporate participant in Minnesota's newest alternative energy program, which uses community solar gardens -- shared solar panel sites with grid-connected subscribers -- to offset electricity use.
SunEdison, Inc. (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, will develop the solar gardens under the Xcel Energy Solar*Rewards Community Program, which launched in December 2014 in Minnesota. The solar gardens will deliver electricity to Minnesota’s local grid, and as a subscriber, Ecolab will offset the electricity it purchases for its corporate and research, development and engineering campuses in Minnesota.
“Supporting SunEdison’s solar garden project enables us to lock in electricity rates for the next 25 years and promote solar energy,” said Alex Blanco, executive vice president and chief supply chain officer at Ecolab. “We always seek opportunities to achieve both business and sustainability goals in the way we operate and through our customer solutions.”
SunEdison plans to develop these Minnesota solar garden sites in Dakota County, where Ecolab’s Schuman campus is located, following approval from Xcel Energy. Pending approval, construction is planned to begin at the end of 2015, with completion projected in 2016. TerraForm Power, Inc. (Nasdaq: TERP) (“TerraForm”), a global owner and operator of clean energy power plants, will own and operate the gardens, and SunEdison Renewable Operations Centers will provide 24/7 monitoring and asset management services.
Ecolab will receive electricity credits on its Xcel Energy utility bills from the energy created at the solar gardens. Ecolab’s credits will be based on output from 40 percent – the maximum amount permitted within the program – of the gardens’ 40 megawatt total capacity. The remaining capacity will be available for credit to schools, municipalities and other Minnesota community members.
“We welcome the opportunity to support the long-term viability of community solar gardens,” said Raj Rajan, vice president and global sustainability technical leader at Ecolab. “Our 25-year involvement in the program will generate more than 552 million kilowatt hours of zero-emission electricity, estimated to eliminate more than 381,000 metric tons of carbon dioxide – equivalent to the carbon sequestered by nearly 10 million tree seedlings during their first 10 years of growth.”
“Large scale participation from companies like Ecolab contributes to the success of this program for all community members,” said Sam Youneszadeh, managing director at SunEdison. “Xcel Energy customers don’t need additional hardware or solar panels installed on their property to take part in the program. As long as they are in the same county or an adjacent county to a SunEdison solar garden, the customer simply signs up with SunEdison and starts receiving savings on their utility bill. There is no cost to participate and SunEdison will complete the required administrative steps on behalf of the customer. Solar gardens are a great way for businesses, schools, and municipalities to contribute to a cleaner environment and save money at the same time.”
A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2013 sales of $13 billion and 45,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world.
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa and Asia. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." For more information, please visit www.sunedison.com
TerraForm is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm creates value for its investors by owning and operating renewable energy power plants. For more information about TerraForm, please visit: http://www.terraform.com.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements (sentences that contain the words ‘will,’ 'plans', 'planned', 'projected', 'intends', and 'estimated') that are subject to certain risks, uncertainties and assumptions. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's and TerraForm’s filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison and TerraForm’s judgment as of the date of this press release. SunEdison and TerraForm disclaim, however, any intent or obligation to update these forward-looking statements.
January 15, 2015