Walmart has contracted with: Nexamp as an anchor tenant to support community solar projects in one of the largest deals of its kind.
The retailer will take a stake in each of New York’s 23 Nexamp solar farms and will receive energy credits, equivalent to approximately 50 MW of its entire portfolio. Walmart has 32 stores, four Sam’s Clubs and one participating distribution center in the state.
As solar grows in size and popularity in the community, it has become a viable option for large companies looking to drive the development of local renewable energy while making progress towards their own climate goals.
“Walmart continues to lead by example through its bold commitments to support a cleaner energy future,” said Zaid Ashai, CEO of Nexamp. “By participating in our community solar program, Walmart is demonstrating that it understands the urgency of climate change issues and that these issues can be addressed in ways that also provide significant economic value.”
Walmart last year set a goal of being a regenerative company and aims to achieve zero emissions by 2040 for its global operations and aims to harvest enough wind, solar and other renewable energy sources to meet its goal of meeting its target. By 2035, provide 100% of its facilities with renewable energy. Currently, 36% of Walmart’s operations worldwide run on renewable energy.
By the end of 2020, Walmart had more than 550 onsite and offsite renewable energy projects in operation or under development in eight countries, 30 states and Puerto Rico.
“Community solar at this scale enables Walmart to play a direct role in driving economic development in the communities we serve and reinforces our goal of fueling collective climate action,” said Mark Vanderhelm, Vice President, Energy and Facilities Management at Walmart.
News item from Nexamp