Del Monte Foods is 'Enriching Lives With Light' via 1.9-Megawatt SunPower Solar Panel System
April 17 2009 - 8:00AM
PR Newswire (US)
Largest Solar Rooftop System in California's Central Valley; $25
Million Savings Expected Over the Next 30 Years SAN FRANCISCO,
April 17 /PRNewswire-FirstCall/ -- Del Monte Foods (NYSE: DLM) and
SunPower Corp. (NASDAQ:SPWRANASDAQ:SPWRB) will dedicate today a new
1.9-megawatt solar power system installed at two of Del Monte's
manufacturing plants. Combined, the two installations represent the
largest solar rooftop system in California's Central Valley. The
system is expected to reduce carbon emissions by more than 95
million pounds over 30 years, which is equivalent to planting 9,800
acres of trees or not driving almost one billion miles on
California roads, as determined by conversion formulas provided by
the U.S. Environmental Protection Agency. Del Monte estimates the
system will deliver approximately $500,000 in savings on electrical
costs in the first year of operation, and $25 million over its
expected 30-year lifetime. The celebration will take place at Del
Monte's Hanford, Calif. plant, which is hosting a 1.2-megawatt
SunPower solar installation. At the company's Kingsburg plant, just
33 miles from Hanford, SunPower designed and built a 759-kilowatt
installation. In recognition of the importance of this milestone
for Del Monte, California State Senator Dean Florez will be in
attendance for the event. "With this new solar power system at our
Hanford and Kingsburg plants, we recognize Del Monte's continuing
commitment to environmental sustainability and the communities in
which we work, a commitment that literally extends from the fields
to the grocery shelf," said Del Monte Foods Chairman and CEO Rick
Wolford. "Since our beginning 150 years ago, the sun has fueled the
growth of our fruit and tomato products. It will now help to power
our California canneries as well, as we continue to provide our
consumers with nutritious, great-tasting products produced with the
addition of even more sunlight. At Del Monte, our environmental
efforts support our mission of Nourishing Families, Enriching
Lives, Every Day. Today, we are truly 'Enriching Lives with
Light'." Combined, the new solar system features 9,080 solar
panels, covering nearly 200,000 square feet of rooftop - roughly
the equivalent of three and a half football fields. The system will
produce enough energy to power approximately 7,519 homes over the
next 30 years. Environmental sustainability also makes good
business sense. Under the California Solar Initiative program, this
system qualifies Del Monte for a rebate on utility rates for the
first five years of operations. Del Monte is realizing additional
savings as a result of California's net metering program, which
requires customers to pay only for the net amount of electricity
their regional utility company supplies over-and-above the amount
of electricity generated by an on-site solar power system. "This
SunPower system is powering Del Monte's facilities with clean,
renewable solar power during the times of day when demand is at its
highest, easing stress on the utility grid when electricity is most
needed and most expensive," said SunPower CEO Tom Werner. "We
applaud Del Monte's vision and commitment, which is serving to
significantly reduce both operational costs and the levels of
greenhouse gases in our atmosphere." "Del Monte Foods is committed
to utilizing innovative programs and technologies that help
minimize our impact on the environment," said Nils Lommerin, Del
Monte Foods chief operating officer. "From working with our growers
to conserve water and reduce pesticide use, to reducing fuel
consumption by eliminating 25 million miles from our distribution
network, to harnessing the power of the sun to fuel these two
plants, we continue on our journey to protect our planet and the
communities where we operate." To learn more about Del Monte Foods'
solar power installation and its other environmental sustainability
initiatives, visit http://www.delmonte.com/csr. About Del Monte Del
Monte Foods is one of the country's largest and most well-known
producers, distributors and marketers of premium quality, branded
food and pet products for the U.S. retail market, generating
approximately $3.2 billion in net sales in fiscal 2008. With a
powerful portfolio of brands including Del Monte(R), S&W(R),
Contadina(R), College Inn(R), Meow Mix(R), Kibbles 'n Bits(R),
9Lives(R), Milk-Bone(R), Pup-Peroni(R), Meaty Bone(R), Snausages(R)
and Pounce(R), Del Monte products are found in eight out of ten
U.S. households. The Company also produces, distributes and markets
private label food and pet products. For more information on Del
Monte Foods Company (NYSE: DLM) visit the Company's website at
http://www.delmonte.com/. Del Monte. Nourishing Families. Enriching
Lives. Every Day.(TM) About SunPower SunPower Corporation
(NASDAQ:SPWRANASDAQ:SPWRB) designs, manufactures and delivers
high-performance solar electric systems worldwide for residential,
commercial and utility-scale power plant customers. SunPower
high-efficiency solar cells and solar panels generate up to 50
percent more power than conventional solar technologies and have a
uniquely attractive, all-black appearance. With headquarters in San
Jose, Calif., SunPower has offices in North America, Europe,
Australia, and Asia. For more information, visit
http://www.sunpowercorp.com/. Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that do not represent
historical facts and may be based on underlying assumptions. The
company uses words and phrases such as "expected," "will," and
"estimates" to identify forward-looking statements in this press
release, including forward-looking statements regarding: (a) the
system reducing carbon emissions by more than 95 million pounds
over 30 years, which is equivalent to planting 9,800 acres of trees
or not driving almost one billion miles on California roads; (b)
the system delivering approximately $500,000 in savings on
electrical costs in the first year of operation, and $25 million
over its expected 30-year lifetime; and (c) the system producing
enough energy to power approximately 7,519 homes over the next 30
years. Such forward-looking statements are based on information
available to the company as of the date of this release and involve
a number of risks and uncertainties, some beyond the company's
control, that could cause actual results to differ materially from
those anticipated by these forward-looking statements, including
risks and uncertainties such as: (i) actual electricity generation;
(ii) the actual energy consumption rate; (iii) unexpected changes
in utility service rates; (iv) variations in carbon dioxide
emissions reductions; and (v) other risks described in the
company's Annual Report on Form 10-K for the year ended December
28, 2008, and other filings with the Securities and Exchange
Commission. These forward-looking statements should not be relied
upon as representing the company's views as of any subsequent date,
and the company is under no obligation to, and expressly disclaims
any responsibility to, update or alter its forward-looking
statements, whether as a result of new information, future events
or otherwise. SunPower is a registered trademark of SunPower Corp.
All other trademarks are the property of their respective owners.
DATASOURCE: SunPower Corporation CONTACT: Ingrid Ekstrom of
SunPower Corp., +1-510-260-8368, ; or Chrissy Stengel of Del Monte
Foods, +1-415-247-3268, Web Site: http://www.sunpowercorp.com/
http://www.delmonte.com/
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