Honeywell and City of Hillsboro Power Water Storage Facility With Solar Panels
Power Purchase Agreement to Reduce Utility Costs, Carbon Dioxide Emissions, and Benefit the Local Economy
MINNEAPOLIS, Feb. 2008 – Honeywell (NYSE: HON) today announced that the City of Hillsboro, Ore., has awarded the company a solar project that is expected to cut the city’s energy costs and greenhouse gas emissions. Under the agreement, Honeywell will install ground-mounted solar panels next to the Hillsboro Evergreen Reservoir water storage facility and sell the electricity the panels produce to the city for use at the reservoir. The panels are expected to generate more than 104,000 kilowatt-hours of electricity annually, almost 20 percent of the power needed for the 15 million-gallon Evergreen Reservoir.
Energy Trust of Oregon, a nonprofit organization that promotes the use of efficient energy technologies and renewable resources, will help fund part of the project. Honeywell also will work with Renewable NRG, an Energy Trust Trade Ally based in Portland, Ore., to install the solar panels. SolarWorld Group, a global manufacturer of solar technology with a new state-of-the-art fabrication plant in Hillsboro, will supply the solar modules and installation hardware.
“The project directly supports our 2020 Vision Action Plan, which we put in place to positively shape the growth and development of the community,” said Tom Hughes, Mayor of Hillsboro. “The power purchase agreement allows us to stabilize and reduce our utility costs, and it will benefit the Hillsboro economy by using local resources.”
The project will deliver environmental benefits as well, cutting carbon dioxide emissions by an estimated 3.6 million pounds over the 20-year agreement. According to figures from the U.S. Environmental Protection Agency, this is equivalent to removing more than 295 cars from the road for a year.
“The Hillsboro solar project is a great example of a forward-thinking municipality demonstrating that renewable energy can positively impact not only its budget, but also the community’s environment,” said Kacia Brockman, solar program manager for Energy Trust of Oregon.
Honeywell expects to install the solar panels and begin providing electricity for the Evergreen Reservoir by July.
“Renewable energy projects like the Hillsboro installation help create environmental and financial value within a community,” said Kent Anson, vice president of Global Energy for Honeywell Building Solutions. “Honeywell worked with the city to identify the renewable resource and contract structure that would provide the greatest overall benefit. We look forward to providing electricity to the city in the near future.”
Honeywell International is a $36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com. Honeywell Building Solutions is part of the Honeywell Automation and Control Solutions business group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Building Solutions, access www.honeywell.com/buildingsolutions.
This release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.