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BNB & Enfinity Co-develop 9.8 Megawatt Solar System

Source: www.gulfoilandgas.com 8/22/2011, Location: North America

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BNB Renewable Energy Holdings and Enfinity America Corporation announced plans to co-develop a portion of BNB’s distributed generation (DG) pipeline in the USA. The first of several anticipated projects under this joint development agreement is the previously announced 9.8MW solar project which is under construction on 60 acres of land at the Campbell Soup Company’s (CPB) production facility in Napoleon, Ohio. The ground-mounted project is the largest commercial “inside the fence” (where all the electricity generated by the installation is utilized by the host operation) solar array currently under construction within the USA. The project is expected to be completed and operational by the end of 2011. Under the terms of the agreement Enfinity is responsible for arranging the financing of the project and will co-manage the installation, contracts and future operations with BNB. Bostonia Partners (Boston), which is a financial advisor to BNB and specializes in renewable energy finance, established the partnership between BNB and Enfinity.

Campbell will purchase 100 percent of the electricity generated by the Napoleon, Ohio system, which is expected to provide approximately 15 percent of the soup plant’s annual electricity requirements. FirstEnergy Solutions (Akron, Ohio) will purchase the Solar Renewable Energy Credits from the project. The project will eliminate approximately 250,000 metric tons of CO2 greenhouse gas emissions in the region, creating a positive environmental impact.

“This opportunity to collaborate with Enfinity marks a great milestone in the development of BNB’s potential DG projects and ensures a successful completion and financing of the Campbell project”, said Matthew Baird, a principal and founder of BNB Renewable Energy Holdings, “The construction of this facility marks a turning point towards larger on-site renewable generation in the USA; We look forward to developing additional projects for environmentally conscious companies like Campbell.”

Rafael Dobrzynski, Enfinity’s Americas CEO, commented “Partnering with BNB means that a range of synergies and complementary skill sets have been used to bring this project to fruition. Our involvement with the Napoleon Solar project validates Enfinity’s strategy of focusing on large-scale DG installations; moreover, our deep experience with this type of solar project and ability to rapidly deploy capital means we can accelerate the pace of development and implementation. DG projects have continued to be an important part of our USA project pipeline.”

BNB and Enfinity selected SunPower (San Jose, Calif.) to deliver the engineering, procurement, and construction services for the Napoleon solar project. The company will install its SunPower [Oasis] Tracker system, using high efficiency solar modules. Construction began in early June and is projected to create more than 200 construction jobs in Ohio this summer. When complete, the system is estimated to produce more than 14.7 million kilowatt hours during the first year of operation.

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