Solar News: Staples (NASDAQ: SPLS) and SunEdison Unveil Solar Power Installation at Staples Global Headquarters
Latest solar installation brings Staples' solar power to 14 Megawatts across its US operations
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FRAMINGHAM, Mass. - April 25, 2013 (Investorideas.com renewable energy newswire) Staples (NASDAQ: SPLS), the world's largest office products company and second largest internet retailer, and SunEdison, a leading worldwide solar energy services provider and subsidiary of MEMC Electronic Materials, Inc. (NYSE: WFR), today unveiled its latest solar power installation at Staples' global headquarters campus in Framingham, Mass.
The project is Staples' 37th solar array and the latest example of Staples' long-standing commitment to environmental sustainability. The installation brings the company's use of solar power to a total of nearly 14 megawatts across its operations nationally, which is equivalent to powering nearly 1,800 average US homes for one year. Staples is ranked among the top ten renewable power users on the Environmental Protection Agency's Green Power Partnership list.
The 685 kilowatt solar installation in Framingham consists of more than 2,440 SunEdison SilvantisT solar modules and will generate an estimated 850,000 kilowatt hours (kWh) of energy annually to help power Staples' 650,000 square-foot headquarters office building. The solar power system will offset more than eight thousand tons of carbon dioxide (CO2) over the next 20 years-a reduction equivalent to removing more than 2,300 cars driving 12,000 miles per year. Staples' total solar power use nationally has offset more than 42,000 tons of CO2 over the past eight years.
"This solar power system at our global headquarters is a demonstration of Staples' dedication to sustainability across our business," said Mark Buckley, vice president of environmental affairs for Staples. "Our partnership for solar energy with SunEdison provides cost-effective power and helps Staples meet its environmental goals."
The SunEdison/Staples solar program is made possible through power purchase agreements between SunEdison and Staples which require no capital outlays from Staples. SunEdison develops, finances, and operates and manages the solar installations, and Staples buys the energy produced at long-term, predictable pricing.
"Staples has been a long-standing partner of SunEdison. We applaud the management team for their strong commitment to environmental sustainability," said Attila Toth, general manager distributed generation for SunEdison. "Through our advanced technologies, proven asset management and financing capabilities, SunEdison is able to deliver competitively priced solar energy to clients like Staples worldwide." Staples has used more than 48 million kWh of solar energy since 2005 from 37 solar arrays. Staples uses renewable power for 100 percent of its total US electricity consumption - which is more than 636 million kWh - through on-site solar projects combined with green power purchases. That's the equivalent of powering more than 67,000 average US homes for a year. The power from these renewable sources is used across the company's facilities, including Staples retail stores, delivery fulfillment centers, customer service call centers and sales offices.
Staples and the Environment
Staples' sustainability vision is to generate business and environmental benefits for customers, communities and the company by leading the way in sustainable business practices. Staples works to achieve this vision through a focus on selling more sustainable products and services; offering easy recycling solutions; eliminating operational waste; maximizing energy efficiency and renewable energy use and; becoming a sustainability leader in the global community.
SunEdison is a global leader in delivering solar power. The company develops, finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers. As of December 31, 2012, SunEdison had interconnected over 989 Megawatts of solar electricity throughout the world. For more information about SunEdison please visit www.sunedison.com. SunEdison is a subsidiary of MEMC Electronic Materials, Inc. (NYSE: WFR).
Staples is the world's largest office products company and second largest internet retailer. For 26 years, Staples has served the needs of business customers and its vision is to provide every product businesses need to succeed. Through its world-class retail, online and delivery capabilities, Staples offers office supplies, technology products and services, facilities and breakroom supplies, furniture, copy and print services and a wide range of other product categories. With thousands of associates worldwide dedicated to making it easy for businesses of all sizes, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. The company is headquartered outside Boston. More information about Staples (Nasdaq: SPLS) is available at www.staples.com.
Certain matters discussed in this press release are forward-looking statements, including that the solar power system will generate an estimated 850,000 kilowatt hours (kWh) of energy annually and will offset more than eight thousand tons of carbon dioxide (CO2) over the next 20 years. 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 normal commissioning risks attendant to large scale solar projects, delays or interruptions in construction, deployment or activation of the facility; the timely availability of required permits and authorizations for projects from governmental entities and third parties; changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, and other risks described in MEMC's filings with the United States Securities and Exchange Commission. These forward-looking statements represent MEMC's judgment as of the date of this press release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.
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