Walmart and EDP Renováveis (EDPR) have signed three wind power purchase agreements (PPAs) which will allow the construction of three large-scale wind farms in the states of Illinois and Indiana.
This 233 MW investment comprises:
- 123 MW at Bright Stalk wind farm (a 205 MW project in McLean County, Illinois, scheduled to start operating in 2019);
- 60 MW at Headwaters II wind farm (a 200 MW project in Randolph County, Indiana, scheduled to start operating in 2020);
- 50 MW at Harvest Ridge (formerly Broadlands) wind farm (a 200 MW project in Douglas County, Illinois, scheduled to start operating in 2019).
These PPAs had been announced by EDPR in May and July 2018 and enabled the company to meet US installed capacity targets (3.5 GW) ahead of schedule.
Through these agreements, Walmart will purchase enough renewable energy to power more than 60,000 homes in Illinois and 15,000 homes in Indiana. Furthermore, the wind farms will bring economic benefits to those regions and states through new jobs, tax payments, and direct investments in local communities.
In recent years, the decline in renewable energy costs has led to increased demand from companies such as Walmart. The continued commitment of corporate organizations to purchasing renewable energy says a great deal about the importance of securing fixed and competitive prices in the long term.
EDPR currently operates 797 MW of wind power in Illinois. By adding Bright Stalk and Harvest Ridge wind farms, the company will further strengthen its presence in Illinois, reaching an overall capacity of over 1,200 MW (1.2 GW) by the end of 2019.
EDPR also operates 801 MW of wind power capacity in Indiana. By the end of 2018, when the 200 MW Meadow Lake VI wind farm is completed, EDPR will reach a capacity of over 1,000 MW (1 GW).
The company will continue to expand its renewable energy portfolio in Indiana over the next few years with Headwaters II (a 60 W wind farm) and Riverstart (a 200 MW solar farm), which are expected to be operational in 2020 and 2022, respectively.
EDPR North America operates over 5,600 MW of renewable energy projects.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With $500 billion in revenue in 2018, Walmart employs over 2.2 million people worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity.
About EDP Renováveis (EDPR)
EDP Renováveis (Euronext: EDRP) is a global leader in the renewable energy sector and the world's fourth-largest wind power producer. With a sound development pipeline, first-class assets and market-leading operating capacity, EDPR has undergone exceptional growth in recent years and is currently present in 13 markets (Belgium, Brazil, Canada, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US).Energias de Portugal SA ("EDP") - EDPR's main shareholder - is a global energy company and a leader in value creation, innovation and sustainability. EDP has been listed on the Dow Jones Sustainability Index for the past 10 years.