Commodities

McCormick Solar Panel Project In Belcamp Completed

By Baltimore Business Journal

Constellation Energy Group Inc. has completed the installation of a 1.8-megawatt solar panel system atop the roof of McCormick & Co. Inc.’s Belcamp distribution center in Harford County, The project, announced in April 2010, will generate an estimated 2.3 million kilowatt-hours of electricity a year, enough to cover about 75 percent of the facility’s electricity needs.

The project, one of the largest solar energy projects in Maryland, consists of 7,491 photovoltaic solar panels mounted on the roof of McCormick’s 363,000-square-foot distribution center. Baltimore-based Constellation (NYSE: CEG) built, owns and maintains the solar energy system.

Sparks-based McCormick (NYSE: MKC) has a 20-year contract with Constellation to purchase at below-market rates the energy the panels generate. The deal is expected to save McCormick $3 million over the course of the contract.

McCormick CEO Alan D. Wilson said in a statement the solar energy project is part of the spice maker’s commitment to renewable energy and reducing the company’s environmental footprint. Since 2005, McCormick has cut greenhouse gas emissions and electricity use by 23 percent and 17 percent, respectively. The company has also pared its water use worldwide by 26 percent and reduced solid waste by 22 percent, it said.

The Belcamp solar project is the second deal between McCormick and Constellation. In 2008, Constellation installed an almost-1-megawatt solar power system at McCormick’s Hunt Valley spice mill.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/baltimore/news/2011/06/07/mccormick-solar-panel-project-in.html?ana=thestreet

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Copyright bizjournals.com 2010

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