All the four active rooftop installations, including Etude and Stags’ Leap Winery, will produce 3.85 million Kilowatt hours (KWh AC) of energy annually and removes 2 million pounds of CO2 emissions per year from the environment.
Foster will host the solar energy system for a 25-year term and will have access to renewable energy at a reduced rate for each of the sites for the duration of the relationship.
PES combined conventional financing, construction and permanent debt and equity, with the federal energy tax credits program to fund the entire installation without capital investment from Foster’s.
PES, as a financer, retains ownership of the solar panels as well as the renewable energy certificates and carbon credits determined by the system’s actual kilowatt hour output.
Partnering with Foster’s to host the largest solar energy project at a U.S. winery is an honor for us, says Laurance Friedman, co-chair of Perpetual Energy Systems. The importance of renewable energy is gaining momentum in the corporate arena. Through this collaboration, Foster’s gains a reduction in energy costs and elevates its role as a responsible corporate citizen.
This is a smart way for us to do the right thing for the environment, commented Scott Weiss, Managing Director of Foster’s Americas. By hosting the solar energy systems at our wineries, we’re helping to leverage the beautiful climate that grows world-class wine grapes to also generate clean energy. This is a great example of Sustainability at work – it’s good for the environment, our community, and our business.
The combined solar energy system occupies 400,000 square feet of total rooftop structures.
In conjunction with PES, The Bright Group, Inc. and Stellar Energy Solutions served as co-developers for planning and construction of the solar project. The Bright Group founded Foster’s Wine Estates solar initiative in March of 2007. It also conducted pre-development engineering, system design including building allocation and roofing specifications.
