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    EDPR   ES0127797019

EDP RENOVÁVEIS, S.A.

(EDPR)
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EDP Renováveis S A : Renewables Announces Completion of 39 New Distributed Generation Projects with Walmart

09/13/2021 | 08:01am EDT

Houston, Texas, Sept. 13, 2021 (GLOBE NEWSWIRE) -- EDPR NA Distributed Generation LLC (“EDPR NA DG”), the distributed business unit of EDP Renewables, announced that it is nearing completion of the 39th distributed solar project with Walmart from a portfolio of projects that commenced in 2020.

The long-standing relationship has resulted in a total of 51 distributed energy projects installed to date by EDPR NA DG for Walmart across seven states, including Arizona, California, Illinois, New Jersey, Louisiana, Maryland, and South Carolina.

The projects, ranging from rooftop to ground mount projects, generate a total of 38.3 MW of energy which is equivalent to an annual offset of 27.1 metric tons of carbon dioxide or 9.2 tons of waste recycled instead of landfilled, according to the U.S. EPA’s Greenhouse Gas Equivalencies Calculator. 

Using the latest in environmental innovation, EDPR worked with Walmart to support its commitment to pollinator-friendly solar by building a ground mount solar array at its Laurens, SC distribution center, featuring pollinator mixes that restore regional biodiversity. This effort, which is part of what is the largest pollinator health effort from a U.S. grocery retailer to date, aims to reduce several pollinator threats through the promotion of integrated pest management (IPM) practices and improving and expanding pollinator habitats. In addition to attracting beneficial pollinators, the project also lessens the stormwater impact and increases the visual appeal of the installation.

According to the Solar Energy Industries Association, in 2019, Walmart added the most solar of any company in the U.S., increasing their solar use by more than 35 percent. And according to the EPA Green Power Partnership Top 30 Retail Ranking, Walmart was the top retailer in terms of annual green power usage in the U.S. in 2020.

“We greatly value our relationship with Walmart and have been pleased to assist in the financing, developing, and constructing of these projects. We approached each site with a commitment to safety, while strategically ensuring that we would achieve Walmart’s overall financial, environmental, and sustainability goals,” stated EDPR NA DG Chief Investment Officer Richard Dovere. “Creativity and innovation underscored our collaboration with Walmart in its continuing journey to becoming a significant carbon neutral leader.  

“We’re pleased to collaborate with EDP Renewables on the installation of these onsite solar projects that drive local environmental benefits, support the local economy and demonstrate our commitment to environmental stewardship in the communities we serve across the U.S., noted Zach Freeze, Senior Director for Sustainability at Walmart. Combined with our utility-scale efforts, these projects continue to advance our achievement of becoming a regenerative company powered by 100 percent renewable energy by 2035 and achieving zero emissions across our operations by 2040.”

In 2020, renewable sources supplied an estimated 36 percent of Walmart's electricity needs globally. As of the end of 2020, Walmart had more than 550 onsite and offsite projects in operation or under development in eight countries, 30 U.S. states, and Puerto Rico.

In 2019, EDPR NA DG’s New Jersey portfolio, which was comprised of five solar installations for Walmart, won the Large-Scale Project of the Year award from Solar Builder Magazine. The Walmart Bayonne Supercenter was the featured recipient of the award.

About EDPR NA Distributed Generation

At EDPR NA Distributed Generation (EDPR NA DG), accelerating the adoption and success of distributed generation is at the core of our mission. EDPR NA DG provides cutting-edge innovative renewable energy services to the entire North American region. Built on long-standing relationships with developers, power generators, corporate purchasers, municipalities and local communities, EDPR NA DG delivers a full suite of offerings ranging from financing and development to construction and operation of energy and storage assets poised to scale. To date, EDPR NA DG has an operating capacity of 86 MW, with a near-term pipeline of more than 200 MW, across 200 sites in 20 states. For more information, visit www.edprnadg.com.

EDPR NA DG is part of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world's fourth-largest renewable 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 15 markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, Hungary, the UK, and the US). For more information, please visit www.edpr.com.


Tom WeirichEDPR NA Distributed Generation
202-509-6435
thomas.weirich@edpr.com

Maura Kennedy
Strategic Elements
856-220-8172
mkennedy@strategicelements.com
Source: EDP Renewables

2021 GlobeNewswire, Inc., source Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
EDP - ENERGIAS DE PORTUGAL, S.A. 0.43% 4.687 Real-time Quote.-9.48%
EDP RENOVÁVEIS, S.A. -1.09% 21.76 Real-time Quote.-3.51%
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Financials
Sales 2021 1 846 M 2 143 M 2 143 M
Net income 2021 539 M 625 M 625 M
Net Debt 2021 3 396 M 3 944 M 3 944 M
P/E ratio 2021 38,1x
Yield 2021 0,42%
Capitalization 20 902 M 24 254 M 24 270 M
EV / Sales 2021 13,2x
EV / Sales 2022 12,0x
Nbr of Employees 1 970
Free-Float 25,0%
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Miguel Stilwell de Andrade Vice Chairman & Chief Executive Officer
Rui Manuel Rodrigues Lopes Teixeira Chief Financial Officer & Director
António Sarmento Gomes Mota Independent Chairman
António do Pranto Nogueira Leite Lead Independent Non-Executive Director
Acácio Jaime Liberado Mota Piloto Independent Non-Executive Director