A large real estate owner, Iron Mountain sees economic and
sustainability benefits in solar energy
BOSTON--(BUSINESS WIRE)--May. 7, 2012--
Iron Mountain Incorporated (NYSE:IRM) announced plans today to install
solar panels on the roofs of eight of its document storage facilities in
Mass., Conn. and N.J. This is the information management company’s first
solar panel installation, but not its last. With nearly 1,000 facilities
around the world, the company has ample roof space for collecting solar
energy, a strategy it sees for fixing long-term utility rates at these
locations and meeting its goals for environmental sustainability.
Collectively, the solar systems located at these initial eight
facilities will produce more than 5.2 million kilowatt-hours of energy
in their first year of operation. That’s enough energy to power more
than 450 U.S. homes for one year. Additionally, the company estimates
the installations will offset nearly 7 million pounds of carbon dioxide
annually, or the equivalent of removing 650 cars from the road every
year.
To deploy the photovoltaic systems, Iron Mountain has entered into power
purchase agreements with SunEdison. Through these agreements, the solar
power services provider will finance, build and maintain the
installations at each site, while Iron Mountain will purchase the energy
generated from these systems at fixed rates for 20 years.
“This is a win-win for our company and the communities where we do
business,” said Iron Mountain CEO and Chairman
Richard Reese
. “We’re
able to lock-in energy rates over the long haul, while our facilities
produce clean renewable energy for the communities where we do business.
Given our sizeable real estate footprint and the economic model of solar
energy, this was a no-brainer. We’re excited to install these solar
panels, and we’ll look to identify additional locations.”
This multi-site deployment will involve two facilities in Windsor,
Conn., one in Northborough, Mass., three in East Brunswick, N.J., and
two in Freehold, N.J. Iron Mountain expects construction will begin this
summer at its facilities in N.J. with all installations operational and
producing solar energy sometime early next year.
A commitment to environmental sustainability is just one pillar of Iron
Mountain’s larger corporate responsibility program, Taking CARE.
This program also includes global strategies and initiatives for
community engagement, employee advocacy and information responsibility.
Visit http://www.ironmountain.com/Company/Corporate-Responsibility.aspx
for more information.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) provides information storage and
management services that help organizations lower the costs, risks and
inefficiencies of managing their physical and digital data. The
Company’s solutions enable customers to protect and better use their
information so they can optimize their business and ensure proper
recovery, compliance and discovery. Founded in 1951, Iron Mountain
manages billions of information assets, including business records,
electronic files, medical data and more for organizations around the
world. Visit www.ironmountain.com
or follow the company on Twitter @IronMountain for more information.
Source: Iron Mountain Incorporated
For Media:
Iron Mountain
Dan
O’Neill, 617-535-2966
dan.oneill@ironmountain.com
or
Weber
Shandwick
Kristen Georgian, 617-520-7042
kgeorgian@webershandwick.com