California, United States [RenewableEnergyWorld.com] Grundfos Pumps Corporation and SunPower Corporation have started electricity production from a 1.1-megawatt solar power system at the Grundfos facility in Fresno, California. The system features a ground-mounted SunPower tracking system on a 7.5-acre site.
“Grundfos is committed to improving our business practices and reducing our environmental impact,” said David Mortensen, senior vice president of finance and quality manager for Grundfos. “This high-efficiency SunPower solar power system will help us significantly reduce costs while improving the quality of the environment for our employees and the greater Fresno community.”
As an alternative to the outright purchase of the solar power system, Grundfos financed the project through financier Morgan Stanley under the SunPower Access power purchase agreement (PPA) program. Grundfos is purchasing the electricity generated from the system from Morgan Stanley, which owns and operates the system.
As a result of the PPA, Grundfos will benefit from immediate savings and a long-term hedge against rising peak power prices. Grundfos owns the renewable energy credits associated with the system.