Thursday, June 23, 2011

Munich Re Plans 2.5-Megawatt SunPower Solar Power System
On June 6, 2011 Munich Reinsurance America (Munich Re) and SunPower Corp. (NASDAQ: SPWRA, SPWRB) announced that SunPower will design and build a 2.5-megawatt solar power system at Munich Re's Plainsboro, N.J. facility. SunPower will install its high-efficiency solar panels on a carport structure that will provide shade for the facility's parking lot while reducing annual electricity costs by almost $500,000. The ... system will benefit the environment with an annual carbon footprint reduction equivalent to removing more than 400 cars from the road, according to estimates provided by the U.S. Environmental Protection Agency.

Munich Re ... achieved carbon neutrality in its Munich headquarters in 2009, and targets 2012 to be carbon neutral throughout its worldwide reinsurance group operations.

'SunPower solar panels, the most efficient available, are guaranteed to perform for 25 years, delivering more solar energy per square foot than all other solar panels on the market today,' said Tom Leyden, managing director at SunPower....

Construction on the system will begin this year, and it will be operational in the second half of 2012. Munich Re will sell the solar renewable energy certificates (SRECs) and environmental benefits associated with the system, enabling the regional utilities to meet their renewable portfolio standard requirements.

SunPower Corp
Press Release dated June 6, 2012

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