EDP Renewables and Walmart Announce 15-Year Power Purchase Agreement in Texas

AI generated summary

The partnership between EDP Renewables North America LLC (EDPR NA) and Walmart Inc. has resulted in the signing of a 15-year power purchase agreement for a portion of a new 180-megawatt solar project in Texas, where Walmart will serve as an offtaker for 162 MWac. This agreement expands Walmart's existing procurement from EDPR NA projects and signifies a step towards Walmart's goal of enabling up to 10 gigawatts of new clean energy projects into service on- and off-site by 2030. The utility-scale project is expected to power 27,000 homes annually and contribute millions of dollars in payments to local economies, benefitting schools, infrastructure, and public services.

The collaboration also aims to create local jobs and stimulate community investment, supporting various businesses and industries in the area. Walmart's commitment to environmental sustainability and economic growth aligns with EDPR NA's goal to save families money and improve communities' quality of life while reducing carbon footprints. Together, the companies have worked on utility-scale and distributed generation projects, with Walmart currently being an offtaker at various sites across North America, including those in Illinois and Indiana. EDPR NA is a leading renewable energy developer in Texas, with substantial installed capacity and ongoing projects poised to bring further economic benefits to Texan communities.