Fifth Third Bank officially marked the opening of the 120-MWdc Aulander Holloman Solar Facility in Hertford County, North Carolina.
Built by solar developer SunEnergy1, the facility is expected to generate clean power that is more than or equal to the amount of energy Fifth Third uses in a year. The system is composed of about 350,000 solar panels using a single-axis tracking system and more than 2,000 inverters and related subsystems.
“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.”
It will generate approximately 202,000 MWh of electricity per year. The panels were installed over 1,400 acres in Hertford County, North Carolina. SunEnergy1 employed approximately 1,000 workers during construction
The Aulander Holloman Solar Facility was developed as a result of a virtual PPA Fifth Third announced in March 2018. The agreement was designed to get Fifth Third to 100% renewable power, one of its five goals for environmental sustainability to be met by 2022.
The electricity generated by the facility is expected to be an amount equal to or more than the amount Fifth Third uses in one year and will be resold at market rates into the local electricity grid.
“Fifth Third is making history,” said Amy Davidsen, executive director of North America for The Climate Group. “They were the first member company to contract for 100% solar power and are demonstrating that renewables make business sense. By adding clean power to America’s electricity grid, they’re accelerating a cleaner future for us all – and leading the way for other companies to follow suit.”
The Climate Group runs the global RE100 initiative for influential companies committed to 100% renewable electricity.
“Fifth Third is a prime example of what can be accomplished when corporations make ambitious commitments to clean energy,” said Miranda Ballentine, CEO of the Renewable Energy Buyers Alliance (REBA). “Fifth Third is poised to achieve its goal to purchase 100% renewable power three years ahead of schedule. REBA is thrilled that Fifth Third Bank…is a part of its membership and is driving towards our vision of a prosperous, zero-carbon energy future.”
News item from Fifth Third Bancorp