General Mills Earns Rental Income from Solar Panels
General Mills is renting out the roof of its San Adrian plant in northern Spain for the installation of nearly 4,500 solar panels.
The company is not detailing the terms of the agreement, but the solar panels have been sold to green investors large and small, according to a company spokeswoman.
While General Mills is not currently purchasing the energy from the panels, it could be a future consideration.
The factory rented its roof space in a 25-year lease with Spain-based MB Solar, which installed the German-made panels, according to a General Mills blog posting. The solar installation generates nearly 1.5 million kWh annually, which goes into the network of the Spanish utility Iberdrola.
Although the plant currently receives all of its electricity from renewable sources such as wind power, it could purchase the electricity generated from the solar panels from Iberdrola.
The installation of the 5.5×3.35-feet solar modules was completed in July and marks the first time a General Mills plant in Europe has solar panels. The company has solar panels at its Minneapolis headquarters’ East Wing building and at two plants in China – to heat water, as well as at a General Mills facility in Massachusetts.
- Alarms Management: The Future is Now
- NAEM Trends Report: Planning for a Sustainable Future
- 2014 Environmental Leader Product and Project Awards
- The CFO and the Sustainability Reporting Chain
- Essential Guide to Lighting Retrofits and Upgrades
- Sustainability Careers: Unlocking Hidden Employment Potential
- The Business Case for Corporate Sustainability Tools
- Trends in Energy Management: Where Should Your Next Investment Be?
- Top 3 Reasons to Calculate Your Environmental Footprint
- Six Essential Steps to Drive Effective Energy Management
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement