Mitsubishi Electric Teams Up with East West Bank to Provide Solar Power to The Port of West Sacramento

The solar system was designed to meet all of the port’s electricity needs for the next 25 years and is expected to reduce the Port of West Sacrament’s energy costs by $20,000 annually.  The construction loan and long term financing was provided by East West Bank.  “This project fits in well with our bank's "Go Green" initiative" to promote the expansion of the clean tech industry in California", says K.Y. Cheng, Executive Vice President of East West Bank.

The solar installation is just one step the port is taking to reduce its impact on the environment.  The port is also improving the energy efficiency of its operations and plans to implement a “marine highway” container barge system in cooperation with the Port of Oakland and Port of Stockton to reduce harmful air emissions.

“In addition to all of the other steps we’re taking to improve our environmental performance, this new solar installation clearly demonstrates that we’re serious about our intent to become one of the greenest ports in the country,” said Mike Luken, Port of West Sacramento manager.

The project utilizes 100 percent lead-free solder solar modules from Mitsubishi Electric.   “We commend the Port of West Sacramento for going solar and setting a great example for other ports to follow,” says Gina Heng, general manager for Mitsubishi Electric & Electronics’ Photovoltaic Division.  “We are excited about our working with East West Bank in the solar industry, where financing solutions for PV projects are in high demand.”   

About East West Bank

East West Bancorp is a publicly owned company with $20.6 billion in assets and is traded on the Nasdaq Global Select Market under the symbol "EWBC". The Company's wholly owned subsidiary, East West Bank, is the third largest independent commercial bank headquartered in California with 135 branches worldwide; including 111 branches in California, eight branches in New York, five branches in Georgia, three branches in Massachusetts, two branches in Texas, and two branches in Washington. In Greater China, East West's presence includes four full-service branches, including two in Hong Kong, one in Shanghai, and one in Shantou. The Bank also has representative offices in Beijing, Guangzhou, Shanghai and Shenzhen, China, and Taipei, Taiwan. For more information on East West Bancorp, visit the Company's website at www.eastwestbank.com.

About Mitsubishi Electric & Electronics USA’s Photovoltaic Division

Mitsubishi Electric is one of the world’s largest manufacturers and providers of solar power technology, including PV modules and inverters. The company’s eco-friendly photovoltaic systems are used throughout the world to bring clean, reliable energy to residences, business, power generation plants, schools, factories and areas without access to electricity, as well as other applications such as highway and stadium lighting. For more information visit www.mitsubishielectricsolar.com.

About Port of West Sacramento

The inland Port of West Sacramento is located 79 nautical miles northeast of San Francisco, and is centered in one of the richest agricultural and industrial regions in the world.  We provide our customers with a full array of services with our commitment to provide efficient, affordable and environmentally responsible Goods Movement centered around the Maritime Industry.  For more information please visit http://www.cityofwestsacramento.org