Sacramento, CA, April 14, 2021 (GLOBE NEWSWIRE) — Today, Sol Systems announces the completion of solar energy systems totaling 6.5 megawatts (MW) at seven Walmart stores across California. The portfolio includes a mixture of solar energy systems installed on the rooftops and parking lot carports and offsets the average energy use of nearly 1000 homes.
The portfolio is part of an ongoing partnership and will provide power directly to Walmart stores in Burbank, Calexico, North Highlands, Perris, Placerville, Sacramento and Wasco. The portfolio was developed by Sol Customer Solutions (SCS), the development division of Sol Systems, a joint-venture with global infrastructure investment firm, Capital Dynamics.
“These projects exemplify the leading approach Walmart is taking: catalyzing action on clean energy across the US and driving a framework for how other companies can take an aggressive, measured approach to reducing carbon emissions through direct, onsite solar energy generation,” said Andrew Grin, Associate Vice President of Sol Customer Solutions.
The projects began construction in 2020, following all necessary protocols to ensure the safety of workers during the COVID-19 pandemic. Sol Systems developed and financed more than 200 MW of solar energy in 2020.
“The installation of these solar panels on our stores in California bring us closer to our goal to supply 100 percent of our global electricity needs with renewable energy by 2035 and reinforces Walmart’s broader mission to spark collective climate action,” said Mark Vanderhelm, Vice President for Energy and Facilities Management, Walmart Inc.
Walmart set a goal last year to be a regenerative company – one that works to restore, renew and replenish in addition to preserving our planet. As part of that goal, it is targeting zero emissions by 2040 across its global operations and aims to harvest enough wind, solar, and other renewable energy sources to reach its goal of powering 100% of its facilities with renewables by 2035. Currently, 29% of Walmart’s operations worldwide are powered with renewable energy.
About Sol Systems
Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure and environmental commodity businesses. To date, Sol has developed and/or financed over 1 GW of solar projects valued at more than $1 billion for Fortune 100 companies, municipalities, counties, utilities, universities and schools. The company also actively shapes and trades in environmental commodity and electricity markets throughout the United States. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with its team, partners, and clients to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com/
About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.
Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.6 billion AUM and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure – proven renewable energy technologies, primarily in North America and Europe, across solar, onshore wind, energy storage and related infrastructure with a focus on both utility-scale and distributed generation technologies. The CEI platform’s fully-integrated asset management affiliate provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GWdc of contracted gross power generation across more than 150 projects in the United States and Europe, and is one of the top 3 global solar PV owners.
As a sustainable asset manager, we have gone beyond standard ESG requirements by designing, implementing and trademarking the Capital Dynamics R-Eye™ Rating System – a unique, best-in-class approach to diligence and rating of each investment based on PRI principles and UN Sustainable Development Goals. Since Capital Dynamics’ Clean Energy Infrastructure platform’s inception in 2010, over 19 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments. This is equivalent to the power needed to supply more than 3 million homes or passenger vehicles for one year.
In 2020, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and in 2019 awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.