Amazon has signed power purchase agreements for 474 MW of renewable capacity in the US and Europe. The company says it expects to expand renewable energy use in the Middle East and Asia Pacific as well. TotalEnergies will supply renewable energy and potential battery energy solutions to the tech giant.
Amazon has committed to power operations with 100% renewable energy by 2030 and reach net-zero carbon emissions by 2040. To achieve that, Amazon has ramped up investments in renewable energy and sustainability over the past several years.
In May, Amazon announced the issuance of a $1 billion sustainability bond. The proceeds will be used to fund projects in five areas, building on investments Amazon has made over the years: renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement and empowerment.
This is part of Amazon’s new Sustainable Bond Framework, which details how the company investing to drive a positive impact on society and to help advance new technologies that decarbonize and preserve the natural world. At Amazon, we are committed to using our scale for good. Amazon continues to stimulate investment in the development of green technologies and low carbon products and services that will enable companies of all sizes to decarbonize their operations.
And in April, the company announced nine new utility-scale wind and solar energy projects in the US, Canada, Spain, Sweden, and the UK. The company now has 206 renewable energy projects globally, including 71 utility-scale wind and solar projects and 135 solar rooftops on facilities and stores worldwide, which will generate 8.5 GW of electricity production capacity globally. With this latest announcement, Amazon is now the largest corporate purchaser of renewable energy in Europe, with more than 2.5 GW of renewable energy capacity.
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