Amazon announced that it invested in more than 100 new solar and wind energy projects in 2023, claiming the title of the largest corporate purchaser of renewable energy for the fourth consecutive year, and bringing the company’s pipeline of clean energy capacity to greater than 77,000 GWh per year, roughly equivalent to the power needs of 7.2 million homes.
According to Amazon, the new projects will move the company closer to its expectation to have 100% of the electricity powering its operations be attributable to renewable energy sources by 2025, ahead of its original 2030 target. The company said that more than 90% of its operations were powered by renewables in 2023.
Over the past year, Amazon has expanded its renewables portfolio into 27 countries and more than 20 U.S. states, with new projects in Arkansas, Georgia, Maryland, Michigan, Mississippi, Missouri, Ohio, Oklahoma, and Virginia as well as Canada and Brazil. The company’s 2023 European renewable energy investments include projects in nine countries, with 15 rooftop solar installations on Amazon facilities across Belgium, France, Italy, Spain, and the UK, and 24 utility-scale wind and solar projects in Finland, Germany, Greece, Spain, Sweden and the UK.
The company also added 13 projects in the Asia Pacific region in 2023, including eight utility-scale wind and solar projects and the first in South Korea. In China, Amazon announced two new wind farms; Amazon Wind Farm China–Daqing, which began operating in March, and Amazon Wind Farm China–Bobai.
Overall, Amazon said that it now has more than 500 wind and solar projects globally.
Source- Amazon Invests in Over 100 New Solar and Wind Projects Over Past Year – ESG Today
About the Authors
Associate Director, Investment Banking
Prachurjya has over 16 years of experience in investment banking with Acuity Knowledge Partners. At Acuity, he has led sector and product-specialist pilot teams across Capital Markets, ESG, Debt Advisory, Loan Syndications, Metals & Mining and Real Estate. He has been actively involved in setting up and on-boarding new ESG Advisory, ESG DCM and Sustainable Finance teams for various bulge bracket investment banks. Within DCM and Rating Advisory, he has been instrumental in helping the clients achieve over 30% in annual savings on both regular and adhoc tasks through standardization of the outputs and deployment of our proprietary BEAT tools.
Delivery Manager, Investment Banking
Puja has 7 years of extensive experience in ESG, Climate Change & Sustainability and she is supervising the ESG team at Acuity. She also has diverse experience in conducting ESIA, EHS compliance audits, ESG Risks and Controls, EHS & ESG Due Diligence assessments. Prior to joining Acuity, she was working with companies like KPMG Global Services, EY India and ERM India. She has expertise in provisioning extensive research requirements for clients through preparation of Peer Benchmarking, Target Compilation, Sustainability report, Sustainable Finance Updates and Sectoral ESG Thematic Detailing Engagement.
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