Munich Re completes building of solar panel canopy
Princeton, New Jersey, 27 September 2012 – Munich Re, named the greenest global company by Newsweek in 2011, completed construction on a 2.5 megawatt solar power generation system at its Plainsboro-NJ based subsidiary, Munich Reinsurance America. The company has a goal to achieve carbon neutrality throughout its worldwide offices by 2015. The solar panel system, combined with other energy efficiency programs implemented in the company, is helping Munich Re attain this goal.
The system consists of high-efficiency solar panels on a carport structure, and is expected to reduce the company’s annual electricity costs by almost $500,000. Most importantly, the solar energy system will benefit the environment with an annual carbon footprint reduction equivalent to removing more than 400 cars from the road.
Commissioner Kenneth Kobylowski of the New Jersey Department of Banking and Insurance and Commissioner Jeanne Fox of the NJ Board of Public Utilities and Plainsboro Mayor Peter Cantu were guest speakers at a dedication ceremony on Thursday to mark completion of the project, and Tony Kuczinski, President and CEO of Munich Re America, hosted.
“Munich Re’s commitment to protect the natural environment plays a key part in our corporate responsibility strategy. After all, the financial success of an insurance and reinsurance group like Munich Re is inseparably linked with protecting people, the environment, and property,” said Tony Kuczinski.
The dedication ceremony featured the (self-proclaimed) world’s largest ever solar panel-shaped cakes, baked by Sodexo.