I just got off the phone with Wal-Mart, who is very excited to announce that they'll be purchasing 100% of the power generated by a new wind farm in Texas. The power will be bought by 360 Texas stores and distribution centers, providing about 15% of the power those locations need.
This is a good step toward Wal-Mart's goal of producing 100% of its power from renewable sources. But on during the call I just had with Wal-Mart, there was a tone of caution in that goal. Over the last few months, with energy prices dropping, and new investment looking less likely, Wal-Mart was more careful about its renewable energy goal.
But the clearest message was sent by Kim Saylors-Lester, who said that Wal-Mart remained 100% committed to its renewable energy goals, as long as the renewable energy matched or beat grid parity. Grid parity means the price at which electricity comes from the gird. So, basically, Wal-Mart is absolutely committed to the environment, as long as it saves them money.
Read the full story here.
Start your workday the right way with the news that matters most. Learn more