Walmart, EDP Renewables Announce Three Wind Energy Power Purchase Agreements
BENTONVILLE, Arkansas, HOUSTON, Texas, October 22, 2018 /3BL Media/– Walmart and EDP Renewables (EDPR) have announced three power purchase agreements (PPA) that will enable the construction of three new utility-scale wind farms – developed, owned and operated by EDPR – in the states of Illinois and Indiana. Walmart’s cumulative 233 megawatt (MW) investment includes the following:
- 123 MW from the Bright Stalk Wind Farm (a 205 MW project in McLean County, Illinois, with start of operations expected in 2019; this PPA is a part of the announcement EDPR issued on July 3, 2018)
- 60 MW from the Headwaters II Wind Farm (a 200 MW project in Randolph County, Indiana, with start of operations expected in 2020; this PPA is a part of the announcement EDPR issued on July 3, 2018)
- 50 MW from the Harvest Ridge Wind Farm, formerly Broadlands Wind Farm (a 200 MW project in Douglas County, Illinois, with start of operations expected in 2019; this PPA is a part of the announcement EDPR issued on May 10, 2018)
Walmart’s purchase through these agreements will produce enough electricity to power more than 60,000 average homes in Illinois and 15,000 average homes in Indiana with renewable energy each year. Additionally, these wind farms will bring economic benefits to their respective regions and states in the form of jobs, landowner and tax payments, and money spent in local communities.
“Walmart has a goal to be supplied by 100 percent renewable energy and sourcing energy from wind farms developed by partners like EDP Renewables is a core component in the mix,” said Mark Vanderhelm, vice president of energy for Walmart. “Wind energy is an important part of our energy portfolio, and Walmart plans to continue our efforts to pursue renewable energy projects that are right for our customers, our business, and the environment.”
“The declining cost of renewable power has led to an increase in clean energy procurement from companies like Walmart in recent years. The continued commitment from corporate entities in procuring renewable energy speaks volumes about the importance and value of securing fixed, competitive pricing over the long-term,” said Miguel Prado, EDP Renewables North America CEO. “EDP Renewables appreciates its partnership with Walmart and commends the company in its efforts to source all of its energy from renewable sources.”
EDP Renewables is a wind industry leader in the states of Illinois and Indiana. To date, EDPR operates 797 MW of wind energy projects in Illinois and with the addition of the Bright Stalk Wind Farm and the Harvest Ridge Wind Farm, EDPR will further increase its footprint in Illinois, surpassing 1,200 MW, or 1.2 gigawatt (GW), of operational capacity by the end of next year.
EDPR also operates 801 MW of wind energy projects in Indiana. With the completion of the construction of the 200 MW Meadow Lake VI Wind Farm, EDPR will exceed 1,000 MW, or 1 GW of operational capacity by the end of 2018. The company will continue to add to its renewable energy portfolio in the state in the coming years with the addition of the Headwaters II Wind Farm and the 200 MW Riverstart Solar Park that are expected to be operational in 2020 and 2022 respectively.
About Walmart
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 fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
About EDP Renewables
EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development 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, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP has been a Dow Jones Sustainability Index for 10 consecutive years. For further information, visit www.edpr.com.
About EDP Renewables North America
EDP Renewables North America LLC (“EDPR NA”) and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America. Headquartered in Houston, Texas, with 46 wind farms, five solar parks, and 13 regional and development offices across North America, EDPR NA has developed more than 6,300 megawatts (MW) and operates more than 5,700 MW of renewable energy projects. EDPR NA is owned by EDP Renováveis, S.A. (EDPR). For more information, visit www.edprnorthamerica.com.
