CVS Health Purchases 42 MW of Renewable Energy

Published on: 11 August 2022
by KnowESG
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CVS Health is purchasing enough renewable energy to power hundreds of its locations in Illinois and Ohio.

The company is receiving the equivalent of 42 megawatts of renewable energy and RECs through a 15-year agreement with Constellation. The deal will help CVS Health power 309 locations and reduce its carbon footprint by more than 38,000 metric tonnes each year, according to the company.

CVS Health will use the Constellation Offsite Renewables platform to facilitate the transaction. The system connects users to large offsite renewable projects and helps match hourly power usage with locally produced carbon-free energy.

The renewable energy will come from the Mammoth Central solar facility, which is the third and final phase of Doral Renewables’ Mammoth Solar project in Indiana. When completed, Mammoth Solar will be one of the United States’ largest solar energy farms, with an estimated capacity of 1.3 gigawatts.

Constellation recently entered into similar agreements with Bank of America and PNC Bank, with the renewable energy provided for both companies also coming from the Mammoth Central project. The Bank of America deal will power 17% of its operations and is for 160 MW of energy, while PNC Bank is getting 78 MW to power half its operations in the northeastern US.

CVS Health says the energy deal is a step toward reaching its goal of sourcing 50% renewable energy by 2040. The company’s net-zero targets have been validated by the Science-Based Target Initiative, and CVS Health is also adding to sustainability efforts through lighting and transportation improvements, water reduction efforts, and reducing paper use.

Constellation is the largest producer of carbon-free energy in the US and says it provides 10% of the renewable energy in the country. The company recently began producing data for its commercial and industrial users to help them measure and reduce their Scope 1 and 2 emissions.

Source: Environmental Leader

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