EDP Renewables and Walmart announce 15-year power purchase agreement in Texas

PRESS RELEASE: EDP Renewables North America LLC (EDPR NA) and Walmart Inc. have signed a 15-year power purchase agreement (PPA) for a portion of a new 180-megawatt (MWac) solar project in Texas. Under the PPA, Walmart will be an offtaker for 162 MWac, complementing its current corporate procurement from EDPR NA projects of 233 MWac of utility-scale solar and wind energy and 36 MWac of distributed solar.

The new utility-scale project will power the equivalent of more than 27,000 homes in the Lone Star state each year. It has contributed significant economic benefits in the form of millions of dollars in payments to landowners and estimates additional payments of $42 million to local governments, benefiting schools, local infrastructure, and other essential public services over its multi-decade operational life. The project already actively participates in the community and has donated $10,000 to the local school district near the site.

Through collaboration with local business owners, landowners, and other community members, the project's continued development and eventual operations will bring increased local community investment, supporting local stores, restaurants, hotels, and construction-related businesses. It is also expected to create 300 full-time equivalent jobs during construction and three permanent operations jobs.

This expansion builds on Walmart's existing portfolio of 600+ on- and off-site renewable energy projects in service or under development in over 10 countries – with a goal to enable up to 10 gigawatts of new clean energy projects into service on- and off-site by 2030.

"This project with EDPR NA builds on our long-term collaboration and is well aligned with Walmart's efforts to expand clean energy capacity and help our customers and communities save money and live better. By providing meaningful economic benefits to local communities, including new local jobs, this project will help build a stronger community, a stronger energy grid as well as contribute toward our operational clean energy goals," said Frank Palladino, VP, Renewable Energy Strategy at Walmart.

"Walmart has shown immense leadership in driving local environmental stewardship and supporting the local economies of its employees' and customers' communities," added Sandhya Ganapathy, EDP Renewables North America CEO. EDPR NA is proud to partner with Walmart to help serve its purpose of helping people save money and live better, well aligned with ours to save families money and improve quality of life for the communities we serve, all while reducing our overall carbon footprint."

Since 2018, Walmart has been working with both EDPR NA's utility-scale and distributed generation business (EDPR NA Distributed Generation – "EDPR NA DG"). At utility-scale, Walmart is currently an offtaker at EDPR NA's Bright Stalk and Harvest Ridge Wind Farms in Illinois as well as at EDPR NA's Headwaters II Wind Farm in Indiana. Together with the transaction announced today, the total volume of utility-scale PPA procurement between the two companies currently stands at 395 MW, which is enough electricity to power 68,335 homes.  At distributed scale, the two have worked on36MWac of offtake spread across 66 distributed generation arrays developed, managed, and operated by EDPR NA DG for Walmart.

EDPR NA is one of Texas' top renewable energy developers and operators, with over 1.2 GW of installed utility-scale renewable capacity across the state that generates electricity equivalent to the consumption of more than 236,000 average Texan homes. The company's operating renewable energy portfolio comprises 1000MW of capacity at six wind farm phases across Texas, along with its first solar park in the state, the 240MWac Cattlemen I Solar Park, which came online in December 2023.  Texas is a strategic market in EDPR NA's portfolio, and the company has additional projects in late-stage development as well as more prospects in its robust development pipeline, poised to bring economic benefits to Texan communities throughout the state.

About EDP Renewables North America

EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms, solar parks, and energy storage systems throughout North America. Headquartered in Houston, Texas, with 60 wind farms, 12 solar parks, and eight regional offices across North America, EDPR NA has developed more than 10,100 megawatts (MW) and operates more than 9,100 MW of onshore utility-scale renewable energy projects.  With more than 1,000 employees, EDPR NA's highly qualified team has a proven capacity to execute projects across the continent.

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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 across North America. 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 262 megawatts (MWac) across more than 530 active sites across North America.

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Media contacts:

Tom Weirich
EDP Renewables North America (EDPR NA)
T: 281-825-2771