Campbell Soup has signed power purchase and land lease agreements with BNB Napoleon Solar to build a 9.8MW solar power generation system on 60 acres of the company’s largest plant in Napoleon, OH. Campbell will lease the land to BNB, which will own the system and be responsible for its financing, construction, operation, and maintenance.
Under the terms of the 20-year PPA, Campbell will purchase 100% of the electricity generated by the system, which is expected to provide approximately 15% of the Napoleon plant's annual requirement. Over the course of the PPA, Campbell said it will save up to US$4 million based on U.S. Department of Energy projections for the cost of electricity in Northwest Ohio.
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FirstEnergy Solutions will purchase the solar renewable energy credits from the project.
The state has shown its support, as the Ohio Enterprise Bond Fund agreed in October to issue US$10.5 million in bonds to finance a portion of the project.
BNB said it is in final contract negotiations with SunPower for the engineering, procurement and construction of the project. Once financing closes and all permits are secured, construction can begin in early June and will create more than 200 construction jobs in Ohio, according to the parties.
When completed, it's estimated that the system will produce more than 14.7 million kilowatt hours during the first year of operation.
