Commercial, Solar - June 15, 2023
CVS Health Signs 18 MW Solar Agreement
CVS Health announced an 18-megawatt agreement to purchase zero-emission, renewable energy equivalent to the annual electricity use of its 147 CVS Health locations throughout Michigan.
The agreement was signed with Constellation. Construction of the project began in March 2023.
The 12-year agreement specifies that beginning in April 2025, the pharmacy retailer will purchase energy and renewable energy certificates (RECs) from Swift Current Energy’s Double Black Diamond Solar Project in Illinois. Due to a long-term agreement between Constellation and Swift Current Energy, Constellation will purchase a portion of the energy and RECs generated by Double Black Diamond.
CVS Health will procure approximately 35,000-megawatt hours of energy per year from Double Black Diamond, which is expected to help the company reduce its carbon footprint by nearly 17,000 metric tons calculated on an annual basis.
“We continue to see the significant impact the environment has on our health and well-being,” said Sheryl Burke, SVP of Corporate Social Responsibility and Chief Sustainability Officer for CVS Health in a statement. “That’s why we’re focused on investing in clean, renewable energy and advancing all our sustainability commitments to improve the health of our planet.”
CVS Health will use the Constellation Offsite Renewables (CORe) product to facilitate its renewable energy transaction since customers can utilize its regionally produced hourly carbon-free energy matching solution.