Raw: [
Retail giant Walmart announced today a series of new clean energy investments and purchase agreements, […]]
Walmart Invests in Nearly 1 GW of New Clean Energy Projects Across the U.S. – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Companies/ Energy Transition
Walmart Invests in Nearly 1 GW of New Clean Energy Projects Across the U.S.
Mark Segal
March 26, 2024
Retail giant Walmart announced today a series of new clean energy investments and purchase agreements, aimed at adding nearly 1 gigawatt of renewable energy capacity across the U.S.
The new commitments follow the announcement by Walmart in January of plans to accelerate its energy transformation strategy, with an ambition to enable as much as 10 GW of new clean energy projects by the end of 2030. Walmart currently powers nearly half of its operations with renewable energy, and has set a goal to reach 100% renewable energy for its facilities by 2035.
In a post announcing the new investments, Walmart Senior Vice President, Energy Transformation, Vishal Kapadia said that the company’s approach to its clean energy commitments includes “identifying high impact, high quality projects that drive positive outcomes.”
Kapadia added:
“These projects are expected to expand access to clean energy, drive new tax revenue to communities, create local jobs and in the case of community solar initiatives, offer direct benefits to Walmart’s customers, members and local communities by helping them save money on energy costs.”
The new commitments include long-term renewable energy purchase agreements for projects being developed by providers including NextEra Energy Resources, EDP Renewable North America and Invenergy, anticipated to add 842 MW of capacity to the grid in Arkansas, Louisiana and Mississippi.
Walmart also announced investments in 26 community solar and distributed generation portfolios, developed by Pivot Energy and Reactivate, producing 70 MW of clean energy across six states, and anticipated to provide enough electricity to support community solar subscriptions for approximately 13,000 residential households. The company said that the community solar projects are expected to enable roughly $8 million in annual savings on energy bills for households and commercial off-takers, including $6 million benefiting low-to-moderate income (LMI) communities.
In addition, the company announced that it has executed clean energy agreements directly with utilities, adding 77 MW of capacity in Louisiana, Michigan and Texas.
Kapadia said:
“An energy system that thrives on emissions-free energy, helps people save money and enables energy resilience for our domestic grid is good for everyone – our business, customers and members, communities and, of course, our planet. Walmart will continue to seek out investments that allow us to expand clean energy capacity and help customers and communities save money and live better, contributing to a more sustainable future.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Companies /
Starbucks Certifies Over 6,000 Locations as Greener Stores
Energy Transition /
Biden Administration Invests $6 Billion in Industrial Decarbonization Projects
Companies /
LEGO Group Signs 9-Year Carbon Removal Deal with DAC Provider Climeworks
‹ Starbucks Certifies Over 6,000 Locations as Greener Stores
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Constellation Energy Issues First Nuclear-Focused Green Bond in U.S.
Deutsche Bank Ties Senior Exec Compensation to Loan Book Decarbonization Goals
RBC Adds “Decarbonization Finance” Category for Hard-to-Abate Sectors to Sustainable Finance Framework
Canada Issues $4 Billion Green Bond
Government
EU Council Fails to Approve Landmark Nature Restoration Law
Biden Administration Invests $6 Billion in Industrial Decarbonization Projects
BlackRock Calls Texas Decision to Divest $8.5 Billion over ESG Policies “Reckless,” Urges State to Reconsider
Texas Pulls $8.5 Billion From BlackRock Over ESG Investing
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy