BP Solar to Supply PV Power Systems for Major Retailer in California
Power purchase agreement provides easy access to zero carbon electricity through high quality, cost-competitive BP Solar power systems.
San Francisco, CA — BP Solar confirmed today that it has been selected to provide photovoltaic solar power systems for Wal-Mart stores in California. This agreement builds on an established relationship between the major retailer and BP Solar.
Under a power purchase agreement (PPA) negotiated for the projects, BP will finance, install and maintain the systems and Wal-Mart will have immediate access to clean electricity with no up front capital cost to the retailer.
BP said it will initially focus on building 10 to 20 rooftop systems at Wal-Mart locations in California, and would work with the retailer to evaluate the potential for additional projects. BP expects to complete the first set of projects, totalling up to 10 megawatts of installed solar power, within about 18 months.
“BP is pleased to expand our energy supply relationship with Wal-Mart through this series of new projects,” said Reyad Fezzani, CEO of BP Solar. ”BP’s solar power systems have been shown to reliably perform for more than 25 years and this reliability - when combined with no up front capital cost - will help drive further development of large-scale solar projects in California and elsewhere"
In 2008, BP Solar completed construction on 4.1 megawatts of solar energy systems for seven Wal-Mart stores and Sam’s Clubs in California.
Under the PPA, Wal-Mart is purchasing all of the energy produced by the solar power systems and BP Solar will operate and maintain the systems. BP leverages both its own capital and also works closely with external finance partners to provide optimal value for its customers.
“BP Solar has been a great partner, and we look forward to accelerating our efforts to utilize more affordable renewable energy in our operations,” said Kim Saylors-Laster, vice president of energy at Wal-Mart. “As we partner on this larger scale, our goal is to show how using affordable solar power benefits the environment and makes good business sense.”
“With our proven long-term reliability, electricity produced from our modules actually offers the lowest lifetime cost of power among major PV companies today,“ Fezzani said. “Combine this with BP’s staying power and you have a very reliable, secure and cost-effective platform for large customers making significant investments in renewable energy.”
BP already guarantees its modules for 25 years and pioneered this offer within the solar industry in 1998.
BP Solar, part of BP Alternative Energy, is a global company with about 2000 employees. BP Solar designs, manufactures and markets products which use the sun’s energy to generate electricity for use in the residential, commercial and industrial sectors. With over 35 years of experience and installations in most countries, BP Solar is one of the world’s leading solar companies.
BP is one of the world’s largest energy companies, with interests in more than 100 countries and over 96,000 employees.
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