Walmart, the world’s largest retailer has agreed with Nexamp one of the nation’s largest contracts of community solar. Walmart subscribed to a share of the 23 solar farms that Nexamp operates across the state of New York; in exchange, the retailer will receive energy credits equivalent to 50 megawatts.
Firstly, Walmart has 32 stores, 4 Sam’s Clubs and one distribution center across the state that will be participating in the Nexamp program; consequently, the deal between the parts is one of the biggest and most important of its kind.
Secondly, according to the companies’ statement, the balance of the energy produced by the projects, will provide economic and environmental benefits to local area residents. It will also push Walmart in its sustainability goals.
Indeed, community solar has become a viable option for large companies looking to help spur the development of localized renewable energy, while also making progress toward their own climate goals.
Thirdly, Walmart set a goal last year to be a regenerative company; one that works to restore, renew and replenish; in addition to preserving the planet. Consequently, it has targeted a zero emissions goal by 2040 across its global operations.
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Walmart with 36% of operations worldwide running on clean energy
Moreover, the company also aims to harvest enough wind, solar and other renewable energy sources; to reach its goal of powering 100% of its facilities with renewables by 2035. In fact, currently, around 36% of Walmart’s operations worldwide are powered with renewable energy.
In addition, as of the end of 2020, Walmart had more than 550 onsite and offsite projects in operation or under development in eight countries, 30 U.S. states and Puerto Rico. About the relevance of the agreement, Mark Vanderhelm, VP of Energy and Facilities at Walmart, commented. “Community solar at this scale allows Walmart to play a direct role in spurring economic development in the communities we serve; and also, reinforces our goal to spark collective climate action.”
On the other hand, Nexamp CEO Zaid Ashai, said. “Walmart continues to lead by example through its bold commitments in support of a cleaner energy future. By enrolling in our community solar program, Walmart demonstrates its understanding of the urgency of climate change issues; and also, that these issues can be addressed in ways that also provide significant economic value.”
Finally, according to the statement, Nexamp still has remaining capacity across its portfolio, that also crosses multiple states, territories and markets. In fact, it has more than 300 MW of renewable energy generating assets currently in operation.
