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Fifth Third to buy power from SunEnergy1’s solar plant in North Carolina

CTBR Staff Writer Published 08 March 2018

SunEnergy1 has signed a deal to sell all the power generated from its 80MW solar power project in North Carolina to US banking company Fifth Third Bancorp.

The power purchase agreement (PPA) signed by the parties in this regard will enable construction on the new solar plant known as the Hertford County Aulander Holloman solar facility.

SunEnergy1 will design, build and own the new $200m solar project, which will recruit around 1,000 people during its construction phase.

The SunEnergy1 solar plant will produce about 194,000MWh/year of wind energy while offsetting 144,000 metric tons of greenhouse gas emissions annually. This will be equivalent to the emissions coming out every year from 30,800 passenger vehicles or 21,600 homes.

SunEnergy1 CEO Kenny Habul said: “When complete later this year, the Hertford County Aulander Holloman facility will be one of the largest solar projects in the US; it will provide an important economic investment in North Carolina; and it will lead to a meaningful and measurable difference in carbon emissions.

“The Earth is our vehicle through time so we congratulate Fifth Third for showing that companies can cut their emissions and improve the health of our environment today through solar power.”

The PPA signed by Fifth Third will help it achieve 100% renewable power through a single project.

Fifth Third Bancorp chairman, president & CEO Greg Carmichael said: “This initiative affirms our bold commitment to advance environmental stewardship on behalf of customers, employees and shareholders.

“This innovative project will reduce Fifth Third’s carbon footprint and benefit the communities we serve. In addition, this project is expected to increase earnings, demonstrating that companies can ‘do well by doing good.’”

Headquartered in Mooresville, SunEnergy1 has installed more than 800MW of solar capacity in the US. Some of the ground-mounted solar projects it has completed are the 112MW Conetoe II, 84MW Summit Farms, 28MW Elizabeth City, 28MW Scotland Neck, 28MW Kelford, 21MW Williamson Speight and the 22MW Whitepost-Millfield.