(FLANDERS, NJ & BALTIMORE, MD, December, 2010) — Benjamin Moore and Constellation Energy have inaugurated a new solar power system that is expected to generate 68 percent of the electricity needs for Benjamin Moore's 80,000 sq. ft. product development center and testing laboratories.
?The solar power system at the company's Flanders, NJ, R&D facility comprises 8,600 crystalline photovoltaic solar panels, making it one of the largest on-site solar power systems in the state. The system is expected to begin producing electricity by year's end.
Benjamin Moore & Co., a Berkshire Hathaway company (NYSE:BRK.A), teamed with the retail division of Constellation Energy (NYSE: CEG) to develop the 1.7-megawatt system. Under a 20-year solar power purchase agreement, Benjamin Moore is providing the land and will purchase all of the electricity from the solar panels. Constellation Energy will build, own and maintain the system.
"Benjamin Moore proudly wears the mantle of product innovator while embracing a stringent commitment to our planet—working diligently to ensure that our products and operations minimally impact the environment," said Denis Abrams, chairman, president and CEO of Benjamin Moore & Co. "Now we are embracing a commitment to renewable energy through our joint endeavor with Constellation Energy. We know that no one action or company will create the single solution to our energy needs. But this installation by Constellation Energy for Benjamin Moore, on our property, contributes to the overall global solution of sustainable energy resources that are sorely needed."
The long-term solar power purchase agreement structure enables Benjamin Moore to undertake renewable energy generation with no upfront capital expenditure. Depending on conditions, the system is expected to produce nearly 2,230,000 kilowatt hours of electricity each year, enough to supply 68 percent of the electricity of the facility. Benjamin Moore and Constellation Energy are also exploring new energy conservation measures at the Flanders site to further reduce the facility's overall electricity usage so that it can rely almost exclusively on the power generated by the solar array.
"Constellation Energy is a national leader in bringing innovative and cost-effective renewable energy solutions directly to commercial customers," said Michael D. Smith, senior vice president of green initiatives for Constellation Energy's retail business. "To make this work you need the vision, expertise, and commitment of companies like Benjamin Moore and Constellation Energy, combined with public support and the commitment of state, federal and local government leaders. Moving to a sustainable energy future is a shared effort, and we're proud to help in the expansion of solar energy in the U.S."
The project is the first of its kind to be located in the New Jersey Highlands region under a recently enacted state law. Constellation Energy and Benjamin Moore worked closely with state and community authorities to ensure that the solar installation fully met the open space and water drainage requirements of the Highlands Water Protection and Planning Act of 2004 which needed to be amended to accommodate this project. The system design was adjusted to shift more than 1,500 photovoltaic panels from an open field on the property to a newly installed roof structure over the facility's existing parking lot. The final design preserves more open space on Benjamin Moore's land while providing shade for parked vehicles. The parking structure will also include recharging stations for electric vehicles.
Constellation Energy estimates that using non-renewable sources to generate the same amount of electricity expected to be produced by the new solar installation would result in the release of more than 1,600 metric tons of carbon dioxide, a greenhouse gas, or the equivalent emissions from more than 300 passenger vehicles annually. The system is the latest example of Benjamin Moore's commitment to sustainability, which includes delivering safer, sustainable products to its customers.
About Constellation Energy:
Constellation Energy (
) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located in the United States and Canada, totaling approximately 9,000 megawatts of generating capacity, and is among the leading advocates for the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $15.6 billion in 2009.
About Benjamin Moore
Benjamin Moore & Co., a Berkshire Hathaway company, was founded in 1883. One of the country's leading manufacturers of premium quality residential, commercial and industrial maintenance paints and other coatings, its products are distributed via a network of independent paint and decorating retailers throughout North America. Benjamin Moore has been a longstanding steward of the environment with a relentless commitment to sustainable manufacturing practices plus the ongoing development of the most eco-responsible paint formulations possible. Its portfolio of Green Promise® products continues to grow and includes Aura®, an über-performance low-VOC paint; Natura®, the true zero-VOC interior paint, remaining zero after tinting in any color, any sheen; and EcoSpec® zero-VOC paint for commercial interiors. The J.D. Power & Associates 2011 Interior Paint Satisfaction Study ranked Benjamin Moore highest in consumer satisfaction. What's more, the Benjamin Moore color offering of 3,300 hues is unrivaled, but any custom color choice can be matched, as was recently done for the White House Oval Office ceiling and trims. The only assurance of getting an authentic Benjamin Moore color is using Benjamin Moore paint, since the colorants and resins are proprietary and formulated with the company's own patented waterborne technologies. And, authentic Benjamin Moore colors are available exclusively from Benjamin Moore retailers.
For Benjamin Moore
Director of Communications, Benjamin Moore
Veeder + Perman
(212) 966-3759 x 207
For Constellation Energy