Commercial, Solar, Sourcing Renewables - August 29, 2019
Fifth Third powers up with 100% renewal energy
Fifth Third Bancorp of Cincinnati is now on its way to realizing its goal of powering its operations with 100% renewable energy and meeting its environmental sustainability goals two years ahead of schedule. The company’s Aulander Holloman Solar Facility in Hertford County, NC, announced in March 2018, is now open and is expected to generate enough clean energy to equal or even exceed the company’s power needs for a year. It also will eliminate 143,000 metric tons of greenhouse gases and power 25,000 homes.
Developed as a result of a virtual power purchase agreement (PPA), this plant was part of Fifth Third’s five bold goals for environmental sustainability that was planned to be met by 2022. The facility has more than 350,000 solar panels using single-axis tracking systems and more than 2,000 inverters and related subsystems. The facility consists of about 120 MW DC of solar panels that can generate approximately 202,000 MW of electricity per year.
“We are extremely proud to be the first Fortune 500 Company to power up a single, solar project that will achieve 100% renewable power,” said Greg D. Carmichael, chairman, president & CEO, Fifth Third Bancorp. “This is another example of our commitment to improving lives and doing what’s best for our communities and planet—today and into the future. This project enables us to contribute positively to the economy of one of our key market states in a way that strengthens Fifth Third Bank’s performance and reaffirms for our stakeholders that we ‘do well by doing good.’”
- How a Focus on ESG Led to a Bank’s Carbon Neutrality Achievement
- Fifth Third Bank achieves carbon neutrality for 2020 operations
- RESF Presentation: Fifth Third Bank - 100% Renewable with a Single Solar PPA
- Infographic: Fifth Third Bank PPA
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