Walmart has contracted with Nexamp as an anchor tenant to support community solar projects in one of the biggest deals of its kind.
The retailer is subscribing to a share of each of 23 Nexamp solar farms across New York and will receive energy credits, equivalent to approximately 50 MW of the entire portfolio. Walmart has 32 stores, four Sam’s Clubs and one distribution center participating in the program across the state.
As community solar grows in scale and popularity, it 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.
“Walmart continues to lead by example through its bold commitments in support of a cleaner energy future,” said Zaid Ashai, Nexamp CEO. “By enrolling in our community solar program, Walmart demonstrates its understanding of the urgency of climate change issues, and that these issues can be addressed in ways that also provide significant economic value.”
Walmart set a goal last year to be a regenerative company and is targeting zero emissions by 2040 across its global operations and 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. Currently, 36% of Walmart’s operations worldwide are powered with renewable energy.
As of 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 allows Walmart to play a direct role in spurring economic development in the communities we serve and reinforces our goal to spark collective climate action,” said Mark Vanderhelm, Vice President, Energy and Facilities Management at Walmart.
News item from Nexamp