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Wells Fargo Receives EPA Green Power Partner of Year Award

Posted on: Tuesday, 23 October 2007, 09:01 CDT

SAN FRANCISCO, Oct. 23 /PRNewswire-FirstCall/ -- Wells Fargo & Company received a 2007 Green Power Partner of the Year award from the U.S. Environmental Protection Agency (EPA) for its leadership in the green power market. Wells Fargo is one of seven companies and the only financial services company to receive the award this year.

"We're proud of our accomplishments and do not intend to stop here -- we're just beginning to take advantage of the unlimited business opportunities to promote economic prosperity and a clean environment," said Mary Wenzel, director of Environmental Affairs at Wells Fargo. "As part of our broader environmental strategy, we will continue to support the development of renewable energy sources and help our customers address rising energy prices through investments, products and education."

Examples of Wells Fargo's accomplishments and activities include: Invests in renewable energy -- Committed to equity investments totaling more than $300 million to renewable energy projects over the past two years, including: -- Seven wind farms in Texas, Colorado, Minnesota and Maine that have a collective generating capacity of more than 1,000 megawatts (MW) -- Nine solar photovoltaic projects in California, New Jersey and Florida that have a collective generating capacity of more than five MW -- Nevada Solar One, a 64 MW concentrating solar power project and the largest solar energy facility built in the world in 16 years Supports renewable energy certificates (RECs) -- Committed to one of the largest green power purchases in the country -- 550 million kilowatt-hours of wind energy a year for three years, or enough to offset 42 percent of the Company's electricity usage -- Became the first U.S. financial institution to make green power reward options available to its consumer and business credit card and check card customers. Additionally, Wells Fargo makes RECs available to middle-market commercial customers as part of an electricity price hedging service. -- Educates team members about green power and makes RECs available to them at a special discounted rate. Wells Fargo team members have purchased more than three million kilowatt-hours of RECs adding to Wells Fargo's original purchase. Raises awareness about renewable energy -- Supports customers who are interested in renewable energy investments as a component of their portfolio. For example, Wells Fargo's Wealth Management Group issued a special report, "Identifying the Opportunities in Alternative Energy" and retail banking stores in the San Francisco Bay Area are piloting "solar seminars" for customers. -- Raises awareness about RECs via news releases, advertisements and by participating in the Fortune 500 Green Power challenge. Combined these efforts have reached millions of people. -- Contributes to organizations and initiatives that support renewable energy. Bonneville Environmental Foundation's Solar 4R Schools program and McClellan Technology Incubator's Clean Energy Showcase are two of more than fifty recipients of Wells Fargo's environmental grants.

"America is shifting to a 'green culture,' with more and more businesses understanding that environmental responsibility is everyone's responsibility," said Marcus Peacock, EPA's Deputy Administrator. "EPA commends Wells Fargo & Company for making a long-term commitment to protecting the environment by purchasing green power."

EPA presented the Green Power Partner of the Year Award to Wells Fargo at an awards event, yesterday evening, Oct. 22, at the Twelfth National Renewable Marketing Conference, which took place in Philadelphia.

"We are honored to receive this prestigious award from EPA for our efforts to help fuel the development of new green power sources," said Don Dana, executive vice president of Wells Fargo's Corporate Properties Group who accepted the award on Wells Fargo's behalf. "We're proud to be part of the solution."

EPA's Green Power Partnership is a voluntary program that encourages organizations to purchase green power as a way to reduce the environmental impacts associated with conventional electricity use. The Partnership currently has hundreds of Partners voluntarily purchasing billions of kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500 companies, small and medium sized businesses, local, state, and federal governments, trade associations, as well as colleges and universities. Additional information about the Green Power Partnership and the Green Power Leadership Awards is available at http://www.epa.gov/greenpower/awards/winners.htm.

Wells Fargo & Company is a diversified financial services company with $549 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."

Wells Fargo & Company

CONTACT: Stephanie Rico of Wells Fargo & Company, +1-415-396-5804

Web site: http://www.wellsfargo.com/

Source: PRNewswire-FirstCall

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