Power Purchase Agreement to Reduce Utility Costs, Carbon Dioxide Emissions, and Benefit the Local Economy MINNEAPOLIS, Feb. 27 /PRNewswire-FirstCall/ -- Honeywell (NYSE:HON) today announced that the City of Hillsboro, Ore., has awarded the company a solar project that is expected to cut the city's energy costs and greenhouse gas emissions. Under the agreement, Honeywell will install ground-mounted solar panels next to the Hillsboro Evergreen Reservoir water storage facility and sell the electricity the panels produce to the city for use at the reservoir. The panels are expected to generate more than 104,000 kilowatt-hours of electricity annually, almost 20 percent of the power needed for the 15 million-gallon Evergreen Reservoir. Energy Trust of Oregon, a nonprofit organization that promotes the use of efficient energy technologies and renewable resources, will help fund part of the project. Honeywell also will work with Renewable NRG, an Energy Trust Trade Ally based in Portland, Ore., to install the solar panels. SolarWorld Group, a global manufacturer of solar technology with a new state-of-the-art fabrication plant in Hillsboro, will supply the solar modules and installation hardware. "The project directly supports our 2020 Vision Action Plan, which we put in place to positively shape the growth and development of the community," said Tom Hughes, Mayor of Hillsboro. "The power purchase agreement allows us to stabilize and reduce our utility costs, and it will benefit the Hillsboro economy by using local resources." The project will deliver environmental benefits as well, cutting carbon dioxide emissions by an estimated 3.6 million pounds over the 20-year agreement. According to figures from the U.S. Environmental Protection Agency, this is equivalent to removing more than 295 cars from the road for a year.
