Under Armour joins the ranks of corporate leadership to prioritize renewable energy and sustainability goals. Increasingly, top U.S. corporations like Under Armour are choosing solar to power their operations, save on electricity, and reduce their carbon emissions. In fact, corporations drove nearly 25% of the total amount of solar energy capacity that was procured in the United States in 2018, pushing the industry toward more innovative financing and power-purchase agreement structures.
Sol Systems, Under Armour
and Greenbacker cut the ribbon on a freshly completed 3 MW solar project,
located in Capitol Heights, Maryland last Friday. Joined by United States Senator Chris Van
Hollen, Congressman Anthony Brown, and several Prince George’s County, Maryland
officials, the ceremony clears the way for the system to now begin powering two
of Under Armour’s facilities in Maryland, including its headquarters.
“At Under Armour, innovation
is at our core,” commented David Bergman, Chief Financial Officer of Under
Armour. “This project is a perfect example of innovation and efficiency,” he
added.
Sited on an unused plot of
land that was deemed unsuitable for residential development, the 3 MW solar
project, will produce enough energy to power the equivalent of 333 average U.S.
homes annually while contributing approximately $1.4 million in tax revenue to
Prince George’s County over the length of its service.
Sol Systems initially began developing this project in 2016, arranging the financing and construction of the project before selling it to Greenbacker Renewable Energy Company. The electricity generated by the plant will be sold to WGL Energy Services, who will then exclusively provide it to Under Armour for 12 years.
”We started our company
around a kitchen table 12 years ago, and wanted to make an impact on the
future, said Yuri Horwitz, CEO of Sol Systems. “This is the physical
representation of what we sent out to do: reinvest in the community and offer a
positive contribution to the DMV.”
To celebrate the project’s
completion and the consistent growth of solar in Maryland, Senator Van Hollen, Congressman
Brown, and Prince George’s County officials joined the project partners for a
ribbon cutting ceremony.
“The private sector has
really come together here,” said Senator Chris Van Hollen, “this is a
win-win-win for consumers, jobs, and for our environment,” he continued.
“[The project] demonstrates
that renewable clean energy and job creation are not mutually exclusive. In
fact, they are mutually reinforcing,” said Congressman Anthony Brown.
This solar project will be almost entirely surrounded by newly planted and existing trees, including maple, oak, pine, and cedars, creating a visual buffer for the site. The new plantings constitute a 1.5 acre woodland conservation easement that will be conserved in perpetuity beyond the life of the project.
ABOUT SOL SYSTEMS
Sol Systems, a national solar finance and development firm, delivers sophisticated, customized services for institutional, corporate, and municipal customers. Sol is employee-owned, and has been profitable since inception in 2008.
Over the last ten years, Sol Systems has delivered 800 MW of solar projects for Fortune 100 companies, municipalities, universities, churches, and small businesses. Sol now manages over $650 million in solar energy assets for utilities, banks, and Fortune 500 companies.
Inc. 5000 recognized Sol Systems in its annual list of the nation’s fastest-growing private companies for four consecutive years. For more information, please visit www.solsystems.com