|
SpatialNews.com Press Release
Macy's Hails Earth Day with SunPower Solar Dedication in San Jose
 Printer Friendly
San Jose, CA - April 21, 2008 - In anticipation of
tomorrow's worldwide celebration of Earth Day, Macy's and SunPower
Corporation (Nasdaq: SPWR), the San Jose-based manufacturer of
high-efficiency solar cells, solar panels and solar systems, are dedicating
a 307-kilowatt solar power system at the Macy's store at Oakridge Mall in
San Jose. SunPower has partnered with Macy's to design and install solar
power systems on 28 stores across California, including 12 in Northern
California, and also assisted the retailer in improving the energy
efficiency at the stores.
The solar dedication is part of Macy's Turn Over A New Leaf campaign
that kicked off yesterday. The awareness campaign is designed to support,
educate and inspire sustainability and eco-friendly practices in everyday
life. In addition to special promotions, merchandise and in-store events,
Macy's will donate all of the proceeds from ticket sales for its national
charity days -- One Good Turn -- on April 26th and 27th to the National
Park Foundation.
The solar power system on Macy's San Jose store is expected to generate
404,000 kilowatt hours per year. It will reduce annual carbon dioxide
emissions by 514,000 pounds, which is the equivalent to planting 1590 acres
of trees over the 30-year lifetime of the system.
"Through commitment and innovation, I believe that we will lead the way
to solving the world's environmental challenges," said San Jose Mayor Chuck
Reed. "The partnership between Macy's and SunPower is a great example.
Together, the two companies are demonstrating how deploying clean renewable
technology is fiscally and environmentally responsible. San Jose stands to
benefit from their leadership and vision."
Macy's has committed to installing over 8 megawatts of solar power
systems on its California stores. At most of the stores, including the San
Jose location, Macy's will purchase the generated electricity from a
third-party financier under the SunPower Access(TM) power purchase
agreement (PPA) program. MMA Renewable Ventures, LLC, will finance, own and
operate solar power systems at all stores for which PPA arrangements have
been finalized. Delivering predictably priced electricity with no upfront
system cost, MMA Renewable Ventures' PPA services provide Macy's with
immediate savings and a long-term hedge against rising peak power prices.
Combining solar power with energy efficiency upgrades such as
high-efficiency lighting and HVAC systems and energy management systems is
expected to reduce energy consumption by more than 24 million kilowatt
hours annually, achieving an estimated 40 percent reduction in Macy's
demand for utility-provided energy in those stores. Carbon dioxide
emissions are estimated to be reduced by more than 195 million pounds over
the lifetime of the systems, which is the equivalent of removing 1,144 cars
from California's highways each year.
"Macy's is committed to supporting the development of clean
technologies, and reducing our energy consumption," says Macy's, Inc. Vice
Chair Tom Cole. "We are proud to join the fight against greenhouse gas
emissions in California because we believe a successful business is
dependent on a healthy environment."
"SunPower is proud to partner with Macy's to deliver innovative solar
technology, efficiency upgrades and affordable financing solutions to
support this unprecedented 28-store commitment," said SunPower Chief
Executive Officer Tom Werner. "We applaud Macy's for their forward-thinking
approach to environmental sustainability and corporate responsibility."
In addition to San Jose, other Northern California locations scheduled
to receive SunPower solar power systems include Concord, Cupertino, Daly
City, Fresno, Newark, Richmond, San Rafael, Santa Clara, Stockton and
Sunnyvale. Completion of all the solar power installations is expected by
the end of this year.
About Macy's
Macy's, the largest retail brand of Macy's, Inc., delivers fashion and
affordable luxury to customers at more than 800 locations in 45 states, the
District of Columbia, Puerto Rico and Guam. Offering distinctive
assortments including exclusive fashion and home brands, Macy's stores are
operated by seven regionally based retail divisions - Macy's East, Macy's
Florida, Macy's Midwest, Macy's North, Macy's Northwest, Macy's South, and
Macy's West -- and an online store at macys.com.
Macy's West is based in San Francisco and operates 193 stores in eight
states. For additional media materials, please visit our online pressroom
at http://www.macys.com/pressroom.
About SunPower
SunPower Corporation (Nasdaq: SPWR) 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 and Asia. For more information, visit
http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of
Cypress Semiconductor Corp. (NYSE: CY).
About MMA Renewable Ventures
A subsidiary of Municipal Mortgage & Equity, LLC "MuniMae," (Pink
Sheets: MMAB), MMA Renewable Ventures finances, owns and operates renewable
energy and energy efficiency assets in the United States. The Company
provides leases, Power Purchase Agreements (PPAs) and other customized
financial solutions to help its customers manage energy costs. MMA
Renewable Ventures is dedicated to delivering competitively priced, clean
energy and energy savings to customers, strong partnership options for
project developers, and exceptional opportunities for institutional
investment in the clean energy sector. For more information about MMA
Renewable Ventures, visit http://www.mmarenewableventures.com.
|
