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Panasonic Forms Energy Business Unit

4/17/2012 01:41:13 PM Eastern

Laguna Niguel, Calif.
- Panasonic has created Panasonic Eco Solutions North America, a new
business unit of Panasonic Corporation of North America that will focus on the
design, implementation and financing of renewable energy and energy-efficiency
projects in the U.S. and Canada.

The new unit also made public a strategic alliance with
Denver-based Renewable Social Benefit Funds, L3C
(RSB Funds) to provide development and financing capabilities to
organizations interested in solar photovoltaic solutions. 

"Panasonic is committed to becoming the leader in green
innovation in the electronics industry by 2018, and the launch of this company
will take us one step closer to achieving that goal," explained Jim Doyle, president,
Panasonic Eco Solutions North America. "With a focus on the long term,
Panasonic recognizes that saving, generating and storing energy are fundamental
needs that require practical solutions both now and moving forward. Panasonic
has a broad range of technologies from solar panels, to lighting controls, to
high-capacity energy storage batteries to create solutions."

Panasonic Eco Solutions North America will provide
comprehensive renewable energy and energy-efficiency solutions to corporate and
public sector organizations from the planning and engineering stages through
implementation, construction and permanent financing, as well as ongoing system
maintenance.

Panasonic Eco Solutions North America has established an
exclusive relationship through the end of 2012 with RSB Funds for the
co-development of commercial-scale solar projects in North America. The two
will work together to provide financing, building and maintenance of commercial
solar PV projects for the private sector as well as nonprofits, municipalities,
hospitals, schools, low-income housing projects and other tax-exempt entities.

The first Panasonic-RSB Funds collaboration was the creation
of a 115 kW solar-power-generation installation on the corporate campus of the
Conrad N. Hilton Foundation in Agoura Hills, Calif.

The announcement was made today at the Fortune Brainstorm
Green Conference, being held here April 16-18. Learn more about Panasonic's
commitment to sustainability and energy solutions business by visiting www.panasonic.net/eco.

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