Home Depot increases wind, solar power procurement

Home Depot stor. Author: Mike Mozart. License: Creative Commons. Attribution 2.0 Generic.

February 14 (Renewables Now) - US home improvement supplies retailer Home Depot Inc (NYSE:HD) said on Wednesday that it is working to procure 135 MW of energy from various alternative sources by the end of 2020.

The company has entered into a 15-year power purchase agreement (PPA) for a 15-MW portion of the 220-MW Pretty Prairie wind farm in Kansas. The power purchased from this site will be enough to supply some 40 stores for a year, it said in a statement.

The particular 83-turbine wind farm is currently being built in Reno County and is owned by a subsidiary of NextEra Energy Resources LLC. It is expected to become operational in late 2019.

The company already has similar deals with wind parks in Texas and Mexico.

At the same time, The Home Depot procures power from solar farms in Delaware, Massachusetts and Minnesota. Their combined output is 25 million kWh. It noted that 45 of its US stores now have operational solar arrays on their rooftops.

The company targets a 40% reduction in carbon emissions by 2030 and a 50% cut by 2035.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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