Amazon Inc (NASDAQ: AMZN) has just secured its place as the world’s largest buyer of renewable energy by agreeing to purchase electricity from 14 wind and solar farms in North America and Europe. With the move, Jeff Bezos’ e-commerce colossus reaches a total of 10 gigawatts of green power capacity, adding up to 232 projects around the world.
Amazon, the world’s largest buyer of green energy
The company is striving to meet its operational energy needs by 2025, as this latest round of green power deals will represent a total capacity of 1.5 gigawatts. According to Bloomberg, this electricity gives Amazon enough power to run its offices, warehouses and data centers, and to cover the energy used by Echo devices.
“We are working to meet The Climate Pledge – our commitment to achieve net zero carbon by 2040, 10 years before the Paris Agreement,” Founder and CEO Jeff Bezos said in a statement.
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Bloomberg informs that, in the United States alone, Amazon will purchase electricity from renewable projects in Arkansas, Mississippi and Pennsylvania, and will also purchase electricity from a solar farm in Alberta, USA. Canada, which, with its massive 375 megawatt capacity, will be the largest in the country in 2022 when it begins operations.
With the acquisition in Canada alone, Amazon will increase its capacity in the country to over one million megawatts, which should be enough to power more than 100,000 Canadian homes.
Other Big Techs also on the hunt
In Europe, the company has reached deals for 52 megawatts in Finland and 152 megawatts for a solar installation in Spain, where Amazon also announced last April two new solar projects located in Badajoz and Seville. Together, they will add more than 170 megawatts to Amazon’s logistics network and the upcoming Amazon Web Services (AWS) in Europe.
Amazon did not reveal any specific terms of the deals after the announcement on Wednesday, but experts believe the company will get a fixed price for green electricity from its generators for a good number of years. This will prevent Amazon from having to renegotiate its energy supply.
Amazon is not the only Big Tech with a keen interest in purchasing renewable energy. According to the Wall Street Journal, Google –– Alphabet Inc Class A (NASDAQ: GOOGL) –– Facebook Inc (NASDAQ: FB) and Microsoft Corporation (NASDAQ: MSFT) are four of the top six publicly disclosed buyers of green energy. . This represents 30% or 25.7 gigawatts of the cumulative total of businesses around the world.
Amazon, Google and Facebook are part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or the families of their founders.