The News: Yesterday, Amazon announced plans to invest in 18 new renewable energy projects. The utility-scale wind and solar energy projects are across the U.S., Finland, Germany, Italy, Spain, and the UK. With these new investments, Amazon now has 274 renewable energy projects globally and will likely achieve its goal of powering 100% of business operations with renewable energy by 2025 instead of 2030, as originally committed. Read the full details on the Amazon website here.
Amazon Announces Plans to Invest in 18 New Renewable Energy Projects
Analyst Take: In September, CEO Andy Jassy said that Amazon has an obligation, now more than ever, to lead the fight for the planet. And it’s clear that tech giant is going to make good on that commitment. With this latest announcement, Amazon continues to be a leader in sustainable enterprises, with an impressive scale of projects that just keeps growing.
These 18 latest renewable energy projects will bring Amazon’s total committed renewable electricity production capacity to more than 12 GW and 33,700 gigawatt hours — enough electricity to power some three million U.S. homes a year.
The projects will supply energy for Amazon’s corporate offices, fulfillment centers, and AWS data centers — all of which require no small amount of energy to operate. Amazon predicts that the energy produced will eliminate the annual emissions of the equivalent of three million cars each year.
Renewable Energy Project Details
Amazon’s 18 renewable energy projects are a global effort. For a deeper look at all of Amazon’s initiatives, you can check out the interactive map on their website. Here are the details of the new projects that will soon be added to the map:
- Eight projects in the U.S. including solar projects in Arizona, Georgia, Ohio, Texas, and Virginia
- A solar project paired with battery storage in Arizona that will allow the company to collect and store energy for periods of high demand even when the sun is not shining
- Four wind projects across Finland adding 158 MW of renewable energy
- Solar and wind projects in Spain, Italy, and Northern Ireland adding to its total of 3.5 GW of renewable energy in Europe
Amazon Can’t Fight This Battle Alone
In September, Andy Jassy also said that the company’s commitment to sustainability and renewable energy was not a solo venture. Other companies are stepping up to the plate with a variety of projects aimed at reducing their respective carbon footprints. Microsoft just announced three data centers that will run completely on renewable energy. In October, Apple announced it doubled the number of suppliers that will transition to renewable energy. And 86 companies signed on to Amazon’s climate pledge in September, bringing the total number to over 200.
It’s promising to see companies take sustainability into their own hands. The announcement yesterday continues to build on the momentum of pledges from the last few months. I hope we continue to see it grow and enterprise organizations will play a pivotal role in the investment and adoption of ESG initiatives.
Good Equals Progress provides industry research and analysis on the topics of Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI). These columns are for educational purposes only and should not be considered in any way investment advice.
The original version of this article was first published on Futurum Research.
Image Credit: Amazon