HONOLULU, April 13, 2011 /PRNewswire/ -- Chevron Energy Solutions, a unit of Chevron Corporation (NYSE: CVX), Oceanic Time Warner Cable and Tioga Energy today unveiled an 856-kilowatt solar system at Oceanic Time Warner Cable's Mililani Tech Park. The completed project is the largest solar parking canopy project in Hawaii.
"We are proud of our collaboration with Chevron Energy Solutions and Tioga Energy to help us incorporate sustainability in our business," said Norman Santos, vice president of operations for Oceanic Time Warner Cable. "This project helps to provide budget predictability for our energy costs and the opportunity to use renewable power."
Chevron Energy Solutions designed, engineered and constructed the solar project that includes solar photovoltaic panels on two buildings and parking canopies. Tioga Energy provided financing services for the project, and will own and operate the installations for the 20-year duration of its solar power purchase agreement (PPA). Tioga will sell the electricity generated by the system back to Oceanic Time Warner Cable at predictable rates less than those of the local utility.
"Oceanic Time Warner Cable is demonstrating how it can be a good business practice for companies to help the State of Hawaii meet its clean energy goals," said Jim Davis, president of Chevron Energy Solutions. "We are pleased we had the opportunity to work with Oceanic Time Warner Cable and Tioga Energy to make this project a reality."
By reducing the purchase of utility power, the project is expected to reduce carbon emissions equivalent to the carbon sequestered annually by more than 225 acres of trees. Under the Hawaii Clean Energy Initiative, the state seeks to generate 70 percent of its power from clean energy by 2030. The rooftop solar installation on Oceanic Time Warner Cable's new annex building at Mililani Tech Park is expected to help the company achieve LEED Gold certification for this building.
"In offering affordable renewable energy options, Tioga Energy and Chevron Energy Solutions are helping organizations to alleviate budgetary stress while simultaneously meeting their sustainability goals," said Paul Detering, CEO of Tioga Energy. "We commend Oceanic Time Warner Cable for its commitment to sustainable business practices and anticipate a successful relationship for years to come."
An event is being held today at Oceanic's Mililani Tech Park to celebrate the completion of the project and provide tours of the solar project and new building. Community members and business officials are expected to attend this event.
About Chevron Energy Solutions
Chevron Energy Solutions develops and builds sustainable energy projects that increase energy efficiency and renewable power, reduce energy costs, and ensure reliable, high-quality energy for government, education and business facilities. Since 2000, the company has developed hundreds of projects that are saving customers in aggregate more than $1 billion and reducing carbon emissions by more than 3 million metric tons. Its parent, Chevron Corporation, is investing across the energy spectrum to develop energy sources for future generations by expanding the capabilities of alternative and renewable energy technologies. Chevron spent approximately $4.4 billion on developing these technologies since 2002, and expects to spend $2.2 billion in this area between 2011 and 2013. For more information, please visit www.chevronenergy.com or www.chevron.com.
About Oceanic Time Warner Cable
Since 1969, Hawaii residents have relied on Oceanic for quality cable service. Today, Oceanic operates one of the most technically-advanced and innovative systems in the industry. As an industry leader, Oceanic proactively invests in state-of-the-art network infrastructure and is at the forefront in providing new subscriber services. Nearly every household and business statewide has access to cable service. Over 200,000 homes statewide are connected to the Internet with high-speed cable modems through Oceanic's fiber coax hybrid signal delivery system. As the flagship of Time Warner Cable in Hawaii, Oceanic provides a diverse selection of entertainment and information services to nearly 350,000 households, schools and businesses. For more information, please visit www.oceanic.com.
About Tioga Energy
Tioga Energy enables commercial, government and non-profit organizations to reduce energy costs while lowering carbon emissions. Through the SurePath™ solar power purchase agreement (PPA), Tioga Energy owns and operates renewable energy systems that provide organizations a hedge against energy price volatility and accelerate their access to clean energy without any capital outlay. For more information call 877.333.9787 or visit: www.tiogaenergy.com. To access and download Tioga Energy's SurePath™ Solar PPA, please visit: www.tiogaenergy.com/annotated-ppa-index.php.
Juliet Don, Chevron Energy Solutions, 415.733.4673
Norman Santos, Oceanic Time Warner Cable, 808.625.8341
Kimberly Setliff, Antenna Group for Tioga Energy, 415.977.1942
SOURCE Chevron Energy Solutions