SunPower: Munich Re Plans 2.5-Megawatt SunPower Solar Power System

Munich Reinsurance America (Munich Re) and SunPower Corp.

today announced that SunPower will design and build a 2.5-megawatt solar power system at Munich Re's Plainsboro, N.J. facility. SunPower will install its high-efficiency solar panels on a carport structure that will provide shade for the facility's parking lot while reducing annual electricity costs by almost $500,000. Most importantly, the Munich Re solar energy system will benefit the environment with an annual carbon footprint reduction equivalent to removing more than 400 cars from the road, according to estimates provided by the U.S. Environmental Protection Agency. Munich Re is committed to the development of regulations and products designed to cut greenhouse gases. Convinced that one of the best ways to lead is by example, the company adopted a carbon-neutral strategy for its reinsurance activities. The company achieved carbon neutrality in its Munich headquarters in 2009, and targets 2012 to be carbon neutral throughout its worldwide reinsurance group operations. “The success of our core business is inextricably linked to environmental protection, so a sustainable approach is an indispensable component of our business strategy,” said Tony Kuczinski, president and CEO of Munich Reinsurance America. “With the benefit of SunPower's experience and technology, our solar carport system will maximize the solar power generated onsite, optimizing our savings and reducing the need for the public utility to burn fossil fuel. It's good for business, our community and the environment.”