Amazon to Buy Renewable Power Across the U.S. in Green Push
(Bloomberg) -- Amazon.com Inc. signed deals to buy power from 14 wind and solar farms across North America and Europe, bolstering its position as the world’s largest corporate buyer of renewable electricity.
The latest push is part of the company’s plan to use renewable sources for all of its power needs by 2025. Amazon’s latest batch of green electricity deals are for a total capacity of 1.5 gigawatts, the company said in an emailed statement.
“We’re driving hard to fulfill The Climate Pledge -- our commitment to reach net-zero carbon by 2040, 10 years ahead of the Paris Agreement,” said Jeff Bezos, Amazon’s founder and chief executive officer.
Amazon will buy power from renewable projects in U.S. states including Arkansas, Mississippi, and Pennsylvania. It will also get electricity from a solar farm in Alberta, Canada, that will have a capacity of 375 megawatts, making it the country’s largest when it comes online in 2022. The deals also include agreements to buy power from a 52-megawatt wind farm in Finland and a 152-megawatt solar facility in Spain.
The electricity will help Amazon run its offices, warehouses and data centers, as well as cover the power used by Echo devices.
Corporate power purchase agreements are a key way to help stimulate the development of renewables and cut a company’s emissions at the same time. While Amazon declined to disclose the exact terms of the deals announced Wednesday, the agreements typically involve the renewable power developer selling electricity at a fixed price for a certain number of years. That gives a developer the certainty it needs to build the project.
“It is the type of investment that we need to see more of to meet the world’s critical energy and climate needs,” said Abigail Ross Hopper, president and chief executive officer of the Solar Energy Industries Association, an American trade organization.
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