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Campbell Announces New 4.4-Megawatt Solar Array at Its World Headquarters

Press Releases

Carport, Roof and Ground-Mount Arrays Expected to Generate the
Equivalent of 20 Percent of Campus’s Electricity Demand

Upon Completion, System Will Become Largest Solar Array in City of
Camden, N.J.

CAMDEN, N.J.–(BUSINESS WIRE)–May 17, 2017–
Campbell Soup Company (NYSE:CPB), in partnership with BNB Renewable
Energy Holdings (BNB), SunPower Corp. (NASDAQ:SPWR), and ORIX USA Corp.
(TSE: 8591; NYSE: IX), broke ground today on a 4.4-megawatt (MW) solar
power project at the company’s World Headquarters in Camden, N.J.
Scheduled to come online in fall 2017, the system will provide energy to
Campbell through a 20-year power purchase agreement (PPA) and generate
more than 5 million kilowatt hours of electricity per year. Upon
completion, the solar array will become the largest in the city of

This Smart News Release features multimedia. View the full release here:

Campbell Soup Company announces new 4.4-megawatt solar array at its World Headquarters in Camden, N. ...

Campbell Soup Company announces new 4.4-megawatt solar array at its World Headquarters in Camden, N.J. (Photo: Business Wire)

The project, developed by BNB, will feature SunPower’s innovative
rooftop, carport and ground-mount solar solutions, which are designed to
optimize power production for commercial customers like Campbell.

At Campbell’s 38-acre World Headquarters campus, 2.7MW will be installed
on the rooftops of existing structures and on new solar canopies that
will be erected in the parking lots. An additional 1.7MW will be
installed on an adjacent 4.5-acre remediated brownfield that BNB
purchased specifically for the project, making use of otherwise unusable
land and increasing the capacity of the system.

Under the 20-year PPA, Campbell will buy electricity generated by the
solar project at a predetermined rate. The fixed PPA rate, which is
currently lower than the cost of traditional electricity for Campbell,
provides the company with long-term visibility for this portion of its
electricity costs.

The system in Camden will be the third solar project that BNB has
developed for Campbell, following the 9.8MW system at Campbell’s
facility in Napoleon, Ohio, and the 1MW system at Campbell’s Pepperidge
Farm bakery in Bloomfield, Conn. Both of those projects also use
SunPower’s high-efficiency solar panels.

“We’re excited to partner once again with BNB and SunPower to add a
third solar array to Campbell’s U.S. footprint,” said Jim Prunesti, Vice
President, Global Engineering, Campbell. “This project contributes clean
energy to the local grid and demonstrates to our community the viability
of renewable energy sources, all while supporting Campbell’s
sustainability strategy to deliver long-term value to our business and

BNB and ORIX USA, a diversified financial company with a strong
commitment to renewables, will jointly own the project. The term debt is
being financed through PSE&G’s Solar Loan Program.

“Bringing a cost-saving solar system to Campbell’s World Headquarters
marks a great moment, and we see a bright future for other Fortune 500
companies who follow Campbell’s lead and turn to renewable energy to
stabilize energy costs and reap rewards from the sun,” said Matthew
Baird, managing partner of BNB. “We are most proud of our collaborative
work with Campbell, SunPower, ORIX, and PSE&G to make this project a

The project will also feature five electric vehicle-charging stations,
provided by PSE&G via its EV Workplace Charging Program, for use by
Campbell employees.

“It’s an honor that Campbell and BNB have chosen SunPower once again as
a solar partner for this project,” said Nam Nguyen, SunPower executive
vice president. “We look forward to delivering the highest quality
experience through our innovative solutions.”

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by its Purpose, “Real food
that matters for life’s moments.” The company makes a range of
high-quality soups and simple meals, beverages, snacks and packaged
fresh foods. For generations, people have trusted Campbell to provide
authentic, flavorful and readily available foods and beverages that
connect them to each other, to warm memories and to what’s important
today. Led by the iconic Campbell’s brand, its portfolio includes Pepperidge
Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal
Dansk, Kjeldsens
and Garden Fresh Gourmet. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward of
the planet’s natural resources. The company is a member of the Standard
& Poor’s 500 and the Dow Jones Sustainability Indexes. For more
information, visit
or follow company news on Twitter via @CampbellSoupCo.
To learn more about how we make our food and the choices behind the
ingredients we use, visit

About BNB

Founded in 2004, BNB Renewable Energy Holdings has developed and
constructed more than 600MW of wind and solar projects in North America
in the last 10 years, having arranged equity and debt financings in
excess of a billion dollars. With offices in New York, Pennsylvania, and
Texas, BNB has a three-year project pipeline in excess of 1,500MW in
North and South America, comprising both distributed-generation and
utility-scale renewable projects. For more information, visit

About SunPower

With more than 30 years of proven experience, SunPower is a global
leader in solar innovation and sustainability. Our unique approach
emphasizes the seamless integration of advanced SunPower technologies,
delivering The Power of One® complete solar solutions and lasting
customer value. SunPower provides outstanding service and impressive
electricity cost savings for residential, commercial and power plant
customers. At SunPower, we are passionately committed to changing the
way our world is powered. And as we continue shaping the future of Smart
Energy, we are guided by our legacy of innovation, optimism,
perseverance and integrity. Headquartered in Silicon Valley, SunPower
has dedicated, customer-focused employees in Africa, Asia, Australia,
Europe, North America and South America. Since 2011, we’ve been
majority-owned by Total, the fourth largest publicly-listed energy
company in the world. For more information, visit

About ORIX USA Corporation

Since 1981, ORIX USA has provided innovative capital solutions that
clients need to propel their business to the next level. Based in
Dallas, ORIX USA has a team of more than 700 employees spanning nearly
20 offices across the U.S. and Brazil. ORIX USA and its family of
companies offer investment capital and asset management services to
clients in the corporate, real estate, municipal and energy sectors,
while holding $6 billion of assets and managing an additional $29
billion, approximately. Its parent company, ORIX Corporation, is a
Tokyo-based, publicly owned international financial services company
with operations in 37 countries and regions worldwide. ORIX Corporation
is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For
more information on ORIX USA, visit

About PSE&G

Public Service Electric and Gas Company (PSE&G) is New Jersey’s oldest
and largest regulated gas and electric delivery utility, serving nearly
three-quarters of the state’s population. PSE&G is the winner of the
ReliabilityOne Award for superior electric system reliability. PSE&G is
a subsidiary of Public Service Enterprise Group Incorporated (PSEG)
(NYSE:PEG), a diversified energy company. For more information, visit
or visit PSEG
on Facebook
on Twitter
on LinkedIn
; or PSEG’s
blog, Energize!

SunPower Forward-Looking Statements

This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements regarding project timelines,
future projects, projected energy output, and cost savings. These
forward-looking statements are based on our current assumptions,
expectations, and beliefs and involve substantial risks and
uncertainties that may cause results, performance, or achievement to
materially differ from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute to
such differences include, but are not limited to: regulatory changes and
the availability of economic incentives promoting use of solar energy,
challenges inherent in constructing and maintaining certain of our large
projects, and fluctuations or declines in the performance of our solar
panels and other products and solutions. A detailed discussion of these
factors and other risks that affect our business is included in filings
we make with the Securities and Exchange Commission (SEC) from time to
time, including our most recent reports on Form 10-K and Form 10-Q,
particularly under the heading “Risk Factors.” Copies of these filings
are available online from the SEC or on the SEC Filings section of our
Investor Relations website at All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation to
update these forward-looking statements in light of new information or
future events.

SUNPOWER, the SUNPOWER logo, and THE POWER OF ONE are trademarks or
registered trademarks of SunPower Corporation in the U.S. and other
countries as well.

Source: Campbell Soup Company

Campbell Soup Company
Thomas Hushen, 856-342-5227
[email protected]
Renewable Energy
Brandon Wall, 212-366-4330
[email protected]
Smith, 408-457-2718
[email protected]
USA Corporation
Jeff Smith, 214-237-2301
[email protected]

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