On May the 17th, the Campbell Soup Company (NYSE: CPB) announced new partnerships with SunPower, BNB Renewable Energy Holdings, and ORIX USA to initiate the construction of a 4.4-megawatt solar power project at the company’s World Headquarters. The solar power system is expected to go live in fall of 2017 at the Camden, New Jersey site. Once completed, Campbell will receive energy through a 20-year PPA, power purchase agreement, for more than 5 million kilowatt hours of energy each year. Simultaneously, the project’s completion will make the company’s solar array the biggest in the entire city of Camden.
The collaborative project was developed by BNB and will feature solar solutions from SunPower. The rooftop, ground-mount and carport solar solutions from SunPower are specifically designed to maximize power production for commercial clients. For Campbell’s 38-acre World Headquarters, 2.7MW will be placed on the rooftops of current structures. Solar canopies are expected to be installed in the property’s parking lots. 1.7MW will be placed on an adjacent brownfield, which was specifically purchased by BNB for the project. The move will allow the company to take advantage of the otherwise unusable land, while simultaneously enhancing the system’s capabilities.
Campbell has entered into a 20-year PPA in which the company will purchase the electricity produced by the solar project at a predetermined price. The agreed upon PPA rate is lower than the current rate Campbell pays for its electricity. BNB and Campbell have collaborated several times in the past. The Camden solar system is the third solar project developed by BNB for Campbell. Campbell has a 9.8MW system at their facility in Napoleon, Ohio and a 1MW system at another facility in Bloomfield, Connecticut.
Both projects take advantage of SunPower’s solar panels. The Camden project is jointly owned by BNB and ORIX USA. PSE&G’s Solar Loan Program is financing the term debt. The project will provide Campbell employees with access to 5 electric vehicle charging stations, also provided by PSE&G.