NEW YORK & TRENTON, N.J.--(BUSINESS WIRE)-- Bloomberg LP, Integrys Energy Services, Inc., and SunPower Corp. (NASDAQ: SPWRA, SPWRB) today announced that a 1.8-megawatt solar power system will be constructed at Bloomberg’s Skillman, N.J. facility. The eight-acre, ground-mounted solar tracking system will be completed by the end of the year and is expected to generate the equivalent amount of power to meet 58 percent of the facility’s electricity demand.
Supporting the development of renewable energy is a critical part of Bloomberg’s environmental impact reduction efforts, the company notes in its recently released sustainability report (www.bloomberg.com/bsustainable). This is the first renewable energy project undertaken by Bloomberg, which plans to develop nearly 6.0-megawatts of solar power in NJ within the next three years.
“Renewable energy development is a core component of Bloomberg’s overall commitment to environmental sustainability. This solar installation is a significant project that diversifies New Jersey’s energy supply with reliable, clean and affordable power, contributing to both environmental and financial goals,' said Curtis Ravenel, head of the Sustainability Group at Bloomberg. In the last three years, Bloomberg has initiated more than 300 internal environmental projects globally, resulting in over $25 million in net operating savings.
Bloomberg will buy the power generated from the system at prices below retail rates, providing a long-term hedge against rising power prices with no initial capital investment. The system will be owned by Solar Star NJ VI, LLC, a wholly-owned subsidiary of Integrys Energy Services, Inc. Solar Star will sell the solar renewable energy credits and environmental attributes associated with the system.
“Integrys is excited to partner with Bloomberg in its efforts to support renewable energy,” said Joel Jansen, managing director of energy assets for Integrys Energy Services, Inc. “It helps us grow our distributed solar photovoltaic portfolio and helps Bloomberg deliver on its commitment toward achieving its energy and environmental goals.”
The system will use high-efficiency SunPower solar panels, the most efficient solar panels available on the market today, with the SunPower™ T0 Tracker system. The Tracker follows the sun’s movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land use requirements.
“The T0 Tracker will deliver more solar energy per square meter and greater energy savings than conventional systems, reliably maximizing the clean, renewable solar power generated for decades,” said Tom Leyden, managing director at SunPower. “We applaud the serious commitment made by Bloomberg and Integrys to help New Jersey meet its renewable portfolio standard targets.”
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength-delivering data, news and analytics through innovative technology, quickly and accurately-is at the core of the Bloomberg Professional service, which provides real time financial information to more than 300,000 subscribers globally. Bloomberg's enterprise solutions build on the company's core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Law, Bloomberg Government and Bloomberg New Energy Finance, the company provides data, news and analytics to decision makers in industries beyond finance. And Bloomberg News, delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and two magazines, Bloomberg Businessweek and Bloomberg Markets, covers the world with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries. Headquartered in New York, Bloomberg employs more than 13,000 people in 185 locations around the world.
About Integrys Energy Services, Inc.
Established in 1994, Integrys Energy Services, Inc. provides competitive energy supply solutions, structured products, and strategies that allow retail residential, commercial, and industrial customers to manage their energy needs. Its principal energy marketing operations are in the northeastern quadrant of the United States. Through its subsidiary, Integrys Energy Services – Natural Gas LLC, Integrys offers natural gas products to a full range of end-users throughout the Midwest. Areas of generation expertise include cogeneration, distributed generation, renewables such as solar and landfill gas, as well as clean fuel generation, with facilities in selected markets throughout the United States. More information about Integrys Energy Services is available online at www.integrysenergy.com.
SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company’s quarter century 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 America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.