Today, Keystone Power Holdings, LLC and Crown Holdings, Inc. (NYSE: CCK) (Crown) announced a solar energy project that will offset one-third of the annual electrical usage in Crown’s Spartanburg, South Carolina plant. Keystone Power Holdings is the financier, developer and owner of the system, with Crown enjoying the solar power via an operating lease. Keystone Power Holdings and its affiliate KPH Construction Services worked closely with Hannah Solar to construct the 924.6 KW DC system with 2,680 PV modules. Crown is headquartered in Pennsylvania with manufacturing locations around the world. Also headquartered in Pennsylvania, Keystone Power Holdings delivers solar projects nationwide and is one of only a handful of South Carolina approved solar leasing companies.
Keystone Power Holdings develops solar energy facilities for its clients while providing green energy at significant cost savings. KPH Construction Services, a division of Keystone Power Holdings performed construction management and oversight for the project, with Hannah Solar providing electrical and project management services. This ground-mounted solar project, located on an industrial-zoned manufacturing site owned by Crown, is currently online and has been generating electricity since October 2017. Annual production is anticipated to be approximately 1,310 megawatt hours/year of energy.
“Solar energy continues to gain ground as an alternative energy solution at the local level. We’re pleased to be able to partner with businesses like Crown to help make green their energy purchases while delivering significant energy savings,” said William R. DePhillipo, Co-Founder of Keystone Power Holdings. “It is also significant that we were able to develop the largest leased solar array in the state of South Carolina.”
“From start to finish, Keystone Power Holdings has been a great partner in this initiative,” said Bob Harding, Plant Manager at Crown. “We are glad to be reducing our carbon footprint and to be contributing to Crown’s wider sustainability goals, which include further reducing energy consumption. Offsetting one-third of our annual energy usage in our Spartanburg plant is an important achievement.”
As part of this initiative, Keystone Power Holdings applied for and was granted a Duke Energy Rebate, which helped to lower capital costs and make the project viable for Crown and Keystone.
About KPH Solar Farms Fund I
Keystone has set up its first investment fund, KPH Solar Farms Fund I, with an initial target volume of USD 35 million for qualified renewable energy projects in the United States. Keystone Power Holdings, LLC has entered the asset ownership business, and is significantly expanding its business in the United States. We are financing small-to-large-scale solar power projects in key United States markets. A bank will provide 100% of the initial debt, equity, tax equity and construction financing for the solar projects of the venture. KPH Solar Farms Fund I will make resources available at a time when consistent funding is difficult to obtain.
About Keystone Power Holdings, LLC
Keystone Power Holdings, LLC is a renewable energy company that develops solar energy facilities. Keystone Power Holdings specializes in the development of medium to large-scale photovoltaic solar systems across North America. Keystone Power Holdings develops solar energy facilities for its clients on or near their properties either on the ground or on rooftops while passing on electricity bill savings. For more information on how to finance and develop your commercial solar facility, please contact Pam Gougeon at 484.301.0755 x27 or email info@keystoneph.com. For more general information on the company, visit www.keystoneph.com.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit www.crowncork.com. For employment opportunities at Crown, please visit www.crowncork.com/careers.
