Commercial, Finance, Solar, Sourcing Renewables, Wind  -  January 31, 2017

Home Depot makes 1st major wind investment

^{Photo of the Los Mirasoles Wind Farm in McAllen, Texas, provided by Home Depot.}

Joining a growing list of corporations looking to increase their use of renewable energy sources, The Home Depot on Jan. 31 announced its first major investment in a wind-powered energy project. 

Through a 20-year power purchase agreement, the home improvement retailer will purchase 50 MW from the Los Mirasoles Wind Farm located near McAllen, Texas, according to a company statement. The 250 MW wind facility is owned and operated by EDP Renewables North America. 

As a part of its renewable energy initiative, The Home Depot's goal is to procure 135 MW of various renewable energy sources, including solar and wind, by the end of 2020. In addition to the wind farm, the company also procures energy from solar farms in Delaware and Massachusetts with a combined annual output of 14.5 million kWh. 

The Home Depot also said more than 150 of its stores and distribution centers utilize onsite fuel cells that produce roughly 85% of the electricity each store needs to operate. The company in October 2016 announced a plan to install behind-the-meter energy storage solutions, created through a recently formed strategic alliance of suppliers, at about 60 of its retail stores, that would bring its total installations to 200. 

The company said the energy purchased from the wind farm is enough to power 100 Home Depot stores for a year, and will also provide $150,000 in local community benefits. 

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