SunPower to install 23 MW of solar arrays in Illinois for Walmart
Solar panels on Walmart's roof, Puerto Rico. Author: Walmart. License: Creative Commons, Attribution 2.0 Generic
SunPower Corp (NASDAQ:SPWR) will install solar power generating systems totalling 23 MW for US retailer Walmart Inc (NYSE:WMT) at 19 of its stores and two distribution centres in Illinois.
SunPower expects to begin construction work on the project in the first half of 2019. It will arrange a power purchase agreement (PPA) for Walmart, which will be buying electricity at competitive prices and hedge against future utility rate increases with no upfront capital costs. Walmart will also own the associated renewable energy credits (RECs).
The planned installations will increase Illinois’ current solar capacity by about 25%, according to the announcement.
Walmart has set a goal to supply its global operations with 50% renewable energy by 2025.