Today, Lowe’s was recognized as one of the REBA Deal Tracker Top Ten large energy buyers and was the only retailer on this list thanks to its U.S.-based renewable energy procurement announcements totaling .250 Gigawatts. This achievement showcases the essential role of renewables in the broader company strategy to reduce absolute Scope 1 and 2 emissions by 40 percent by 2030.
This recognition is thanks, in part, to Lowe’s announcement of the Black Diamond Solar Project in Illinois. Lowe’s first year of energy purchases from Black Diamond Solar Project will generate 535,000 megawatt hours of electricity, enough to power more than 43,300 homes for a year.
Lowe's is committed to addressing climate change, and we are proud to be the only retailer included in REBA's top ten list this year.
“The fight against climate change will require teamwork in the public and private sectors and the companies included in the list are leading the way towards protecting the environment for future generations," added Cassell.
The REBA Deal Tracker is a unique tracking mechanism that focuses on U.S.-based, utility-scale corporate procurement, which informs the annual REBA Deal Tracker Top Ten lists featuring the top corporates, or large energy buyers, leading the procurement of renewable energy. Importantly, to be included on the REBA Deal Tracker, all renewable energy deals must meet the following requirements:
- Based in the U.S.
- Off-taker must be a corporate in the commercial and industrial sector
- Classified as off-site, utility scale procurement or on-site procurement of over 20 MW
- Publicly announced through a company press release, alternative announcement medium (blog, media coverage), or through a regulatory filing
- Meet one of the following procurement mechanisms: power purchase agreement (PPA), green tariff, direct project ownership, bilateral utility deal, energy buyer tax equity investment, green power purchase
To download the REBA Deal Tracker or for more information regarding the methodology, visit https://rebuyers.org/. For more information on Lowe’s Corporate Responsibility efforts, visit the Lowe’s Corporate Responsibility Page.
