Amazon to Source Renewable Energy From Engie-EDP Renovaveis JV
By Nina Kienle
Amazon.com has signed an agreement to procure renewable energy from a Scottish offshore wind farm jointly owned by France's Engie and Portugal's EDP Renovaveis, the companies said Tuesday.
French utility company Engie signed a corporate power purchase agreement with the U.S. technology major, increasing Amazon's share of output from the Moray West wind farm to a total of 473 megawatts, the companies said. This is enough energy to power the equivalent of more than 650,000 U.K. homes annually, they added.
Financial details weren't disclosed.
The site--with generation capacity of 882 megawatts and due to enter operation later this year--is owned by Ocean Winds, a 50-50 joint venture between EDP Renewables and Engie.
Ocean Winds is following an accelerated development and construction plan to support Amazon's goal of powering all operations entirely with renewable energy by 2025, five years ahead of its original target, the companies said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 30, 2024 05:52 ET (10:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software