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Wal-Mart and SunEdison Activate Solar Power System in Honolulu
HONOLULU-(Business Wire)-January 28, 2008 - Representatives from Wal-Mart Stores, Inc. (NYSE:WMT) and SunEdison today announced the completion of the first of four solar power systems in Hawaii as part of a previously announced pilot program on the islands. The 283 kW DC solar power system at the Sam's Club on Keeaumoku Street was financed, constructed and will be maintained for Wal-Mart by SunEdison under a solar power services agreement (SPSA).
This rooftop system is part of a major purchase of solar power services from SunEdison and other solar power providers for approximately 22 Wal-Mart stores, Sam's Clubs and distribution centers in Hawaii and California. Stores included in the pilot project are expected to achieve immediate savings over their current utility rates. Additional Hawaii locations to be installed in 2008 will include Wal-Mart stores in Mililani and Pearl City on Oahu and in Kailua-Kona on the Big Island of Hawaii.
During the first full year of production, the rooftop system will produce more than 444,000 kilowatt hours (kWh) of solar electricity. Over 10 years, the zero-emission system will produce 4,248,000 kWh of electricity and avoid the release of over 7.3 million pounds of greenhouse gases.
Wal-Mart is currently testing renewable energy technologies, such as wind and solar power generation, in its experimental stores in McKinney, Texas and Aurora, Colorado. Along with the learnings from these stores, the company will use the results of the pilot project and its solar power purchase to explore additional ways to achieve its renewable energy goals and determine how to move forward with solar power generation at additional Wal-Mart stores, Sam's Clubs, and distribution centers.
"We are committed to making decisions that are good for business and the environment," said Brian Halsey, market manager for Wal-Mart in Hawaii. "We're pleased with the progress and excited about this important step towards our goal of being supplied 100 percent by renewable energy."
"Wal-Mart's decision to use renewable energy proves zero-emission solutions are viable right now, and that solar power is clearly part of the energy mix. We at SunEdison are here for the long term, to support Wal-Mart in reducing its electric bills and helping lower greenhouse gas emissions immediately and for decades to come," said Thomas (Tom) Rainwater, CEO of SunEdison.
Last year, SunEdison won a solar services provider bid to develop solar energy systems for four Wal-Mart store locations in Hawaii. Under the solar power services agreement (SPSA), SunEdison will sell all of the energy produced by the systems to Wal-Mart, as well as operate and maintain the systems. The upfront capital investment is made by SunEdison. Wal-Mart will benefit from receiving all of the renewable energy credits associated with the energy output of the systems.
Each solar power-generating system installed may vary, but across the Hawaii sites, on average a system can provide 10 to 15 percent of the power for the store or club on which it is installed. The solar power pilot project is a major step toward Wal-Mart's goal of being supplied 100 percent by renewable energy.
Note to Editors: High resolution photographs of the rooftop system at the Keeaumoku Street Sams' Club are available.
About Wal-Mart
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company's securities are listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com.
About SunEdison
Sun Edison LLC is North America's largest solar energy services provider and operates across the global marketplace. SunEdison provides solar-generated energy at or below current retail utility rates to a broad and diverse client base of commercial, municipal and utility customers. For more information about SunEdison, please visit www.sunedison.com.
