SECAUCUS, N.J., March 27, 2013 /PRNewswire-iReach/ -- Panasonic Eco Solutions North America (Panasonic), has completed the installation of a solar photovoltaic (PV) parking lot canopy at the new Agoura Hills, California headquarters for the Conrad N. Hilton Foundation. Panasonic served a supporting role in the project that was developed and financed by RSB Funds (RSBF). The 115 kilowatt PV project will deliver clean, renewable energy to the headquarters, generating enough energy to operate over 20 average California homes for an entire year.
"Panasonic is pleased to have partnered with RSBF to deliver a comprehensive solar solution, including development, construction and financing, that will generate tangible and intangible benefits for the Conrad N. Hilton Foundation for decades to come," said Jamie Evans, Managing Director, Panasonic Eco Solutions North America.
The Conrad N. Hilton Foundation designed its new headquarters campus to address current and future professional and social responsibilities, including a focus on becoming increasingly energy efficient, environmentally responsible and aesthetically appealing. The solar PV carport system supports the organization's goal to exceed Platinum LEED standards and further demonstrates the Foundation's long-term commitment to sustainability.
"The use of solar power was an essential part of our plan to achieve LEED Platinum status and eliminate the use of fossil fuels. The project we completed with Panasonic helped us achieve this goal while enabling us to continue to maximize the allocation of our assets for charitable purposes," said Patrick J. Modugno, Vice President, Administration and Chief Financial Officer, Conrad N. Hilton Foundation.
About Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation was created in 1944 by international business pioneer Conrad N. Hilton, who founded Hilton Hotels and left his fortune to help the world's disadvantaged and vulnerable people. The Foundation currently conducts strategic initiatives in six priority areas: providing safe water, ending chronic homelessness, preventing substance abuse, helping children affected by HIV and AIDS, supporting transition-age youth in foster care, and extending Conrad Hilton's support for the work of Catholic Sisters. Following selection by an independent international jury, the Foundation annually awards the $1.5 million Conrad N. Hilton Humanitarian Prize to a nonprofit organization doing extraordinary work to reduce human suffering. From its inception, the Foundation has awarded more than $1 billion in grants, distributing $83 million in the U.S. and around the world in 2012. The Foundation's current assets are approximately $2 billion. For more information, please visit http://www.hiltonfoundation.org.
About Renewable Social Benefit Funds, L3C
Renewable Social Benefit Funds (RSBF) is an alternative energy company focused exclusively on bringing solar power to hospitals, schools, low-income housing projects and other governmental and tax-exempt entities. RSB Funds develops solar projects for its clients that require no initial investment, provide the best-in-breed operation and maintenance, and always reduce energy costs so that savings can be used to support mission-critical programs.
RSBF is an L3C (Low-profit, Limited Liability Company). An L3C is run like a regular business and is profitable, yet unlike a standard LLC, the L3C has primarily civic-focused goals. For more information on RSBF and its programs, visit http://www.rsbfunds.com.
About Panasonic Eco Solutions North America
Panasonic Eco Solutions North America is a division of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation (NYSE: PC). The company provides a full range of renewable energy and energy efficiency solutions and services including planning, implementation, financing, and maintenance to corporate and private sector organizations in both the U.S. and Canada. To learn more about the company and its eco solutions, visit http://www.panasonic.com/ecosolutions.
Phyllis Grabot, ZEESMAN for RSBF
Aaron Fowles (Panasonic)
Dan Unger (Panasonic)
SOURCE Panasonic Corporation of North America