Walmart Goes Big on Renewables

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by KnowESG,

Walmart Inc.

KnowESG_Walmart Goes Big on Renewables
Image courtesy of Walmart

Walmart made an important announcement in January regarding its energy transformation strategy.

This initiative aligns with the company's overall growth plan, focused on being a people-centric, technology-driven omnichannel retailer that empowers customers to save money and improve their lives. Walmart confirmed its commitment to building nearly 1 gigawatt (GW) of new clean energy projects across the United States.

Prioritising High-Impact Clean Energy

Walmart prioritises high-impact, high-quality clean energy projects that deliver the most benefits. These projects aim to:

  • Expand access to clean energy for communities

  • Generate new tax revenue for local areas

  • Create jobs in the project locations

  • Offer cost savings on electricity for Walmart customers and communities, particularly through community solar initiatives

These new investments strengthen Walmart's existing portfolio, which has over 600 renewable energy projects (both on-site and off-site) operational or under development in over 10 countries.

Community Solar: Delivering Savings for Homes and Businesses

Through partnerships with Pivot Energy and Reactivate, Walmart will introduce 70 megawatts (MWac) of clean energy from 26 new community solar installations across six states.

Once operational, these projects are expected to generate enough clean energy to power roughly 13,000 homes and provide households and businesses with approximately $8 million in annual energy bill savings. Significantly, around $6 million of these savings are projected to benefit low-to-moderate income (LMI) communities.

Renewable Energy Purchase Agreements: Powering the Grid

Long-term renewable energy purchase agreements are another key element of Walmart's strategy to reduce emissions and increase clean energy on the grid. These agreements support the development of new clean energy projects that create jobs, generate tax revenue for rural communities, and contribute to the company's goals of using renewable energy and reducing emissions.

Developed by NextEra Energy Resources, EDP Renewable North America, and Invenergy, these new solar projects will add 842 MW of clean energy capacity to the grid, with a focus on new regions for Walmart like Arkansas, Louisiana, and Mississippi. Combined with the additional 77 MW from agreements with utilities in Louisiana, Michigan, and Texas, these projects significantly advance Walmart's goal of achieving 100% renewable energy use by 2035 and reaching zero emissions.

Commitment to a Sustainable Future

By 2030, Walmart aims to enable the construction of 10 GW of new clean energy projects – enough to power over 2 million homes. This commitment benefits not only the company's customers and communities but also the planet. A clean energy system fosters cost savings, strengthens the domestic energy grid, and reduces pollution. Walmart remains dedicated to investing in clean energy solutions, empowering its customers and communities to save money, live better, and contribute to a more sustainable future.

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Source: Walmart

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