Shelbyville-based Toray Resin Company has started generating some of its own power from a solar energy facility built in a lease arrangement with Duke Energy Indiana. The Plainfield-based utility says the project is the first in a pilot program to help businesses, schools and nonprofits to incorporate renewable energy into their operations.
Under the program, Duke Energy will own, operate and maintain the solar facility on Toray Resin’s land for a monthly service fee. Toray gets the benefit of reducing its carbon footprint, while minimizing upfront costs and maintenance obligations.
“This unique leasing arrangement will help power the company’s manufacturing operations in a sustainable and cost-effective way, while also demonstrating how our neighbors, businesses and communities can come together to make meaningful progress toward a cleaner energy future,” said Stan Pinegar, president of Duke Energy Indiana.
Construction on the eight-acre project began in October 2021 and was completed in late August 2022. The facility consists of nearly 2,500 solar panels.
“This joint agreement with Duke Energy Indiana further advances Toray’s commitment to reduce our carbon footprint by investing in renewable power solutions like solar that are reliable, scalable, cost-efficient, sustainable and directly support our core business strategy,” said Dennis Godwin, president of Toray Resin Company.