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The World's Largest Retailer Wants In On Solar Energy

April 1, 2024
x min read

Solar energy is on the rise. And now, Walmart wants in.

What’s happening:

  • Walmart (NYSE:WMT) has announced a new partnership with Pivot Energy to fund the development of 19 new solar energy projects in the United States

Why it matters:

  • Funding for solar energy startups has been accelerating, with recent new financing rounds led by BlackRock and even Leonardo DiCaprio

By the numbers:

  • Walmart will fund the development of 19 new solar energy projects, of which 15 of them are community solar farms
  • Once complete, Pivot Energy expects that their new solar infrastructure will be able to power more than 7,000 individual homes

Going deeper:

  • Walmart has been on a mission to decarbonize their operations, which they first formally announced through their Project Gigaton
  • Project Gigaton has already met its initial target of reducing one gigaton of carbon emissions from Walmart's operations approximately half a decade sooner than they originally anticipated

The intrigue:

  • One gigaton of carbon emissions is equivalent to approximately the entire emissions of Japan in a single year

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