Commercial, Solar, Sourcing Renewables - January 25, 2024
CVS Health Adds Two Renewables Projects
CVS Health announced it has entered into two agreements for the purchase of 264,000 megawatt hours' worth of zero-emission renewable energy.
The agreement was signed with Constellation and will be equal to the annual electricity usage of nearly 1,000 CVS Health locations in California, Washington, D.C., Delaware, Maryland, and New Jersey.
“Investing in our planet and people’s health are interconnected,” said Sheryl Burke, chief sustainability officer and SVP of corporate social responsibility at CVS Health, in a statement. “As our world continues to evolve, these sustainability investments we’re making right now are increasingly important to create a healthier future for the communities we serve.”
CVS Health will purchase energy and renewable energy certificates (RECs) through two separate long-term agreements with Constellation. These deals are made possible by Constellation's other long-term agreements with solar projects located in California and Maryland.
The healthcare company will receive approximately 264,000 megawatt hours of energy annually through its retail agreement with Constellation, with that energy matched by Green-e® Energy Certified RECs sourced from other renewable facilities throughout the U.S.
Since 2022, CVS Health has made five renewable energy investments. These two new investments with Constellation, the company’s two agreements announced in 2023, and the first investment made in 2022 represent more than 500,000 megawatt hours (MWh) of clean, renewable energy. This is a significant share of the 2.2 million MWh of energy CVS Health used in 2022.
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