Cox Enterprises Announces Bold Investment in $25M Solar Energy Partnership

Clean energy partnership is part of the company's aggressive, long-term energy conservation strategy

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May 03, 2018, 02:30 ET

ATLANTA, May 3, 2018 /PRNewswire/ -- As part of its effort to expand its clean energy portfolio, Cox Enterprises announced it has become the majority investor in a $25 million partnership that created four solar farms in Georgia and Florida. The project is part of the company's national Cox Conserves sustainability program, which celebrated its 10^th anniversary last year. The program has long employed new sustainable technologies and programs to create environmental solutions and create new business ventures.

"This is just one of many Cleantech initiatives that will help us meet our goal of leaving the world in a better place for future generations," said Cox Enterprises Assistant Vice President of Environmental Sustainability Steve Bradley. "Cox has a long history of being aggressive and methodical with respect to driving positive environmental change."

In total, the newly installed 42,000 solar panels harness enough energy from the sun to produce 13 megawatts of power. That is enough renewable energy to prevent nearly 14,000 tons of carbon from entering the environment each year, or the equivalent of taking 3,300 cars off roads.

The four project sites represent the company's second partnership with PEC Velo, and are a part of 34 total solar PV projects Cox has completed in the past decade.

Since the launching of Cox Conserves, Cox Enterprises has invested more than $116 million toward enhancing the efficiency of its operations, improving facilities to save energy and reduce waste and supporting environmental nonprofits. The company has also offset 93,000 tons of carbon.

Cox uses solar energy and energy efficiency in its operations and incentivizes employees who choose to use solar. As a way to help propel these efforts, the company invested in alternative energy in 17 states: Arizona, California, Florida, Georgia, Hawaii, Maryland, Massachusetts, Missouri, Nevada, New Jersey, New York, North Carolina, Oregon, Rhode Island, South Carolina, Tennessee and Texas.

The farms in Georgia are located in Douglasville, approximately 20 miles west of Atlanta; Cairo in Southwest Georgia, and Winder (west of Atlanta). The fourth, and largest farm of the four, located in Jacksonville, Florida, uses an advanced single-axis tracking system designed to allow the solar panels to track the sun as it travels across the sky from sunrise to sunset. The tracking system allows the solar farm to be 30 percent more efficient than fixed-tilt solar farms.

"In Douglasville, we've received great feedback from residents who are thrilled about how the property is being used," said Bradley. "At Cox, our commitment to environmental sustainability is enduring and we aim to accelerate our efforts through more and larger investments in the near future."

About Cox Conserves:
Launched in 2007 by Chairman Jim Kennedy, Cox Conserves is Cox Enterprises' national sustainability program. Cox Conserves focuses on reducing waste and energy consumption, as well as conserving water. The program engages each of the company's major subsidiaries (Cox Communications, Cox Automotive and Cox Media Group) and encourages Cox Enterprises' 60,000 employees and their families to engage in eco-friendly practices.

The company's sustainability goals are to send Zero Waste to Landfill by 2024 and become Carbon and Water Neutral by 2044. The company also presents the Cox Conserves Sustainability Survey, a nationwide survey that examines sustainability opportunities and challenges for small and medium-sized businesses.

About Cox Enterprises:
Cox Enterprises is a leading communications, media and automotive services company. With revenues exceeding $21 billion and approximately 60,000 employees, the company's major operating subsidiaries include Cox Communications (cable television distribution, high-speed internet access, telephone, home security and automation, commercial telecommunications and advertising solutions); Cox Automotive (automotive-related auctions, financial services, media and software solutions); and Cox Media Group (television and radio stations, digital media, newspapers and advertising sales rep firms).

The company's major national brands include Autotrader, Kelley Blue Book and Manheim. Through Cox Automotive, the company's international operations stretch across Asia, Australia, Europe and Latin America. To learn more about Cox's commitment to people, sustainability and our communities, please visit www.CoxCSRReport.com.

SOURCE Cox Enterprises