SunPower Signs Pact with Walmart

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Energy tycoon SunPower group has signed a pact with grocery giant Walmart to install solar power at two distribution centers and 19 stores in Illinois. This proposed plan will be a combination of both the rooftop and ground-mount systems that will be installed and are set to account for around 23 megawatts of power.
Mark Vanderhelm, Walmart's vice president for energy said in his statement that solar was a vital component of the firm's expanding renewable energy portfolio and this planned projects with SunPower are moving Walmart in the right direction toward company’s renewable energy goals. Construction of the Illinois system is expected to begin in the first half of 2019.
The company has its ambitious plans when it comes to sustainability. Walmart plans to tirelessly pursue renewable energy projects that are right for the customers, business and the environment. “These planned projects with SunPower are moving us in the right direction toward our renewable energy goals,” Mark added.
it wants to power half of its operations with renewable energy by 2025. by the year 2030, the business wants to cut emissions in its global value chain by one billion metric tons. through a power purchase agreement (PPA) arranged by SunPower, Walmart is financing the solar projects.
with no up-front capital costs, SunPower will allow Walmart to buy power at competitive prices and hedge against future utility rate increase. The executive vice-president for commercial Americas of SunPower, Nam Nguyen, said, “As the top US commercial solar provider and with over 30 years of experience, SunPower is well positioned to help Walmart increase its renewable energy investments in a cost-effective manner.” According to the agreement, Walmart will own the renewable energy credits associated with the system.
Energy is considered to be a smart investment for commercial customers because of state policies and rising utility rates in Illinois. The new installations are expected to generate enough electricity to power nearly 30,000 homes and will result in a 25% increase in the state's solar capacity.
The executive director of the Illinois Solar Energy Association, Lesley McCain expressed his hope on this proposed projects and said that Illinois Solar Energy Association is committed to advancing solar locally, enabling companies such as  Walmart with stores and employees across the state to realise the economic and environmental value of renewable energy. He also acknowledged that this project has the potential to create jobs for the residents in the state.

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