Amazon has secured 37 new renewable energy projects totaling 3.5 GW, expanding the company's renewable energy portfolio by 30%, the e-commerce giant said Wednesday.
Twenty-three of the projects will be located in the U.S., including Amazon's largest renewable energy project to date — a 500 MW solar farm in Texas. Additional projects will be sited in Spain, France, Australia, Canada, India, Japan and the United Arab Emirates.
By taking action to grow its renewable energy project pipeline and build lasting relationships with developers in 2020 and 2021, Amazon has been able to avoid having projects delayed by cost increases and supply chain disruptions, according to Charley Daitch, director of energy infrastructure for Amazon Web Services.
Thirty-seven new energy projects will not only expand Amazon's renewable energy portfolio by nearly a third, but will also put the company on track to meet its 100% clean energy goal five years ahead of its original 2030 target, according to Amazon.
The projects—including three wind farms, 26 solar farms, and eight rooftop solar installations—will bring Amazon's renewable energy portfolio to a total of 310 projects, which are expected to produce 42,000 GWh annually. Two of the new projects also include battery storage, doubling Amazon's energy storage capacity.
"We feel good about it — the announcement and the momentum we continue to build," Daitch said. "We feel like we have the volume we need under contract, and we're looking at a solid pipeline going forward."
Amazon has been the largest corporate buyer of renewable energy in the U.S. for the last two years, according to the Clean Energy Buyers Association. Daitch said the company was fortunate to line up so many deals during that time period, which has allowed it to get ahead of many of the supply chain disruptions now causing price increases and delays for other projects.
Having a global footprint, and building long-term relationships with developers, has also allowed Amazon to expand its renewable energy portfolio rapidly amid market volatility, Daitch said.
"The thing that is exciting to us is to be at this scale," Daitch said. "We're just passionate about Amazon's overall decarbonization efforts and building a business that is more sustainable for customers and the planet."
With the company now on track to achieve 100% clean energy by 2025, Daitch said. Amazon is also turning its attention to the company's overall emissions and its goal to achieve net-zero carbon operations by 2040. The company currently plans to have 100,000 electric delivery vehicles on the road by 2030.