Lexmark International Inc. will invest $4 million to establish a solar panel array and educational greenspace area at its corporate headquarters in Lexington.
The imaging and Internet of Things (IoT) company will construct a 10-acre solar panel array that will generate over 225,000 kilowatt hours per month and will offset approximately 10% of the Fayette County site’s energy usage, according to a news release.
The new array will be used to power the Lexmark facility and has potential to increase capacity up to six megawatts. Company leaders anticipate work on the project to begin immediately and be completed by the end of 2022.
“The solar array demonstrates Lexmark’s long-term focus on sustainability and is a significant step toward our goal of becoming carbon neutral by 2035,” said Allen Waugerman, Lexmark president and CEO, in the release. “We appreciate the tremendous support we received from the Kentucky Energy and Environment Cabinet. This project is a great example of what can be accomplished when we work together toward a common goal.”
Kentucky Lt. Gov. Jacqueline Coleman, who attended the project's groundbreaking on April 19, said the it builds on the commonwealth’s vision for the future.
“Last year, we announced Kentucky’s energy strategy for a transitioning energy landscape. Known as KYE3 — which stands for energy, environment and economic development — our long-term strategic vision for Kentucky is an energy strategy wrapped in economic development and focused on resilience,” she said. “Lexmark is one company embodying the essence of KYE3. Congratulations on the groundbreaking of your solar array.”
The project also will revitalize a brownfield area, which will be used as an educational greenspace with walking trails, a wildlife habitat, a butterfly garden and planting area for pollinator flowers. Power generation analytics resulting from the solar array will be displayed at the company’s customer engagement center. The solar array and revitalized brownfield also will be utilized to further enhance Lexmark’s longstanding support of STEM education opportunities for local schools.
In March, the Kentucky Economic Development Finance Authority (KEDFA) approved Lexmark for up to $200,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA) for this project.
