Walmart Accelerates Clean Energy Transformation
Walmart revealed this week that it has made commitments that will enable the construction of nearly 1 gigawatt (GW) of new clean energy projects across the country.
The retail giant’s approach to new clean energy commitments is aimed at identifying high-impact, high-quality projects that drive positive outcomes. 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.
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The two community solar and distributed-generation portfolios, developed by Pivot Energy and Reactivate, include 70 megawatts (MW) from 26 new community solar and distributed-generation installations across six states. Once operational, they are anticipated to produce approximately 160,000 MW of clean energy annually, producing enough electricity to support community solar subscriptions for approximately 13,000 residential households in the United States. According to Walmart, these will enable approximately $8 million in annual savings on energy bills for households and commercial off-takers while bringing new clean energy online. The retailer also pointed out that around $6 million of these savings are expected to benefit low-to-moderate-income communities.
In addition to community solar, the execution of long-term renewable energy purchase agreements is key to reducing emissions and delivering more clean energy to power grids. Through these long-term agreements, Walmart is enabling new clean energy projects that help support local jobs, generate new tax revenue in rural communities, drive clean energy to local grids and deliver meaningful progress toward the company's renewable energy and emissions reduction goals
Developed by NextEra Energy Resources, EDP Renewable North America and Invenergy, these solar projects represent commitments by Walmart in new regions, including its home state of Arkansas, as well as Louisiana and Mississippi. The portfolio also includes additions to its renewable portfolio in Texas.
These new investments will add to Walmart's existing portfolio, which consists of more than 600 on-site and off-site renewable-energy projects already in operation or under development in more than 10 countries.
Each week, about 255 million customers and members visit Walmart’s 10,500-plus stores and numerous e-commerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Bentonville, Ark.-based Walmart employs approximately 2.1 million associates worldwide. Walmart U.S. is No. 1 on Progressive Grocer’s 2023 list of the top food and consumables retailers in North America. PG also named Walmart one of its Retailers of the Century.
