Walmart Inks One of The Nation's Largest Community Solar Agreements with Nexamp

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Aug 03, 2021, 13:00 ET

BOSTON, Aug. 3, 2021 /PRNewswire/ -- Walmart, the world's largest retailer, has contracted with Nexamp as an anchor tenant to support 129 Megawatts of 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 Megawatts of the entire portfolio. Walmart has 32 stores, 4 Sam's Clubs, and one Distribution Center participating in the program across the state.

This Nexamp solar farm in Gloversville is one of 23 community solar projects in New York that will provide clean energy credits to Walmart and savings opportunities to area residents.

The balance of the energy produced by the projects provides economic and environmental benefits to local area residents. 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 Nexamp CEO Zaid Ashai. "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."

"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.

Additional capacity remains on Nexamp projects across multiple markets and utility service territories. Businesses interested in learning more about commercial offtake should visit https://www.nexamp.com/power-purchase-agreements.

Walmart set a goal last year to be a regenerative company—one that works to restore, renew and replenish, in addition to preserving, our planet. As part of that goal, it 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 projects in operation or under development in eight countries, 30 U.S. states and Puerto Rico.

About Nexamp
Nexamp is leading the transformation to the new energy economy with proven solar and storage solutions that make clean energy more accessible for our customers and partners. Our comprehensive solar and energy storage capabilities—including project development and acquisition, design, construction, and operations—enable clean energy savings and benefits for more customers. Nexamp's industry-leading community solar platform makes solar an option for anyone, offering guaranteed savings on annual electricity costs. With more than 300 MW of renewable energy generating assets currently in operation, we are building a decarbonized energy future. Visit us at www.nexamp.com.

SOURCE Nexamp