Toyota financing new 8.79-MW rooftop solar installation via PPA arranged by SunPower

Written By: Stratton Report
April 10, 2017

On April 10, SunPower announced that construction has begun on the 8.79-MW solar system at Toyota Motor North America’s new headquarters in Plano, Texas.

According to SunPower, Toyota is financing the solar project through a PPA arranged by SunPower, which allows Toyota to buy power at competitive rates – acting as a hedge against future utility rate increases – with no upfront capital cost. Toyota will own the renewable energy credits associated with the system.

SunPower stressed that the project, nearly a megawatt larger than originally planned, it is expected to be the largest non-utility corporate office on-site solar installation in the state, generating enough energy to supply approximately 33 percent of the headquarters’ energy needs.

Kevin Butt, regional director, North American Environmental Division, Toyota noted:

We are excited to see this solar power project start to really take shape on our new headquarters campus. As a long-standing solar advisor, SunPower is helping us realize Toyota’s 2050 global environmental challenge to eliminate carbon emissions in all operations.

Nam Nguyen, SunPower senior vice president observed: “We’re proud to partner with Toyota on this innovative solar project as the company works to achieve its ambitious sustainability goals. The unique long-span carport design will feature SunPower’s high reliability solar panels that deliver 30 percent more electricity than conventional solar, optimizing Toyota’s renewable energy investment.”