Schneider Electric and Kimberly-Clark Partner for Renewable Energy
Innovative Collaborations for Grid Resiliency
In a major step towards enhancing America’s energy landscape, Schneider Electric and Kimberly-Clark have announced a series of new tax credit transfer agreements. These agreements are designed to not just bolster the clean energy transition, but also demonstrate a commitment to sustainability through key investments in renewable energy.
Supporting America's Clean Energy Transition
The newly established tax credit transferability agreements under the Inflation Reduction Act (IRA) pave the way for significant investment in renewable energy projects. By facilitating these transfers, Schneider Electric and Kimberly-Clark are actively contributing to a more resilient and sustainable energy grid, marking a critical point in the ongoing battle against climate change.
Significant Investments in Battery Storage
One of the core components of this partnership involves funding for four new battery energy storage projects. These efforts reflect Kimberly-Clark's dedication to ensuring that the energy grid can withstand future challenges while promoting the transition towards clean energy. Schneider Electric’s expertise in energy management is pivotal to these developments, ensuring that they are not only effective but sustainable.
Decarbonization Goals and Progress
Since 2016, Schneider Electric has been instrumental in guiding Kimberly-Clark towards its ambitious decarbonization goals. With a commitment to reduce greenhouse gas emissions by half by 2030, Kimberly-Clark is also striving for 100% renewable electricity in its North American operations by the same target year. These efforts highlight the company’s commitment to creating a cleaner environment.
Partnership Driving Sustainable Solutions
The recent tax credit transfer agreements exemplify how businesses can work collaboratively to foster sustainability. As both companies focus on innovative projects, they hope to set a standard within the industry, encouraging other organizations to follow suit. Projects funded through these agreements are not merely theoretical; they are foundational efforts supporting a broader movement towards renewable energy usage.
Details of Recent Tax Credit Transfers
The investment tax credit agreements support several major battery energy storage initiatives, including a significant TCT agreement valued at $82.5 million, designed for a 180 MW facility, among others. The financial backing for these projects underscores a strong commitment to not only meet immediate energy needs but also to prepare for future demands sustainably.
Transforming Energy Landscapes
Lisa Morden, Chief Sustainability Officer at Kimberly-Clark, emphasized, "Today’s announcement showcases our dedication to renewable energy solutions. We are committed to fostering innovative partnerships that will propel our green initiatives and contribute to the global energy landscape." The collaboration certainly positions both companies as leaders in sustainable energy practices.
Conclusion: A Commitment to Sustainability
As Kimberly-Clark continues its journey towards significant environmental milestones, Schneider Electric remains a vital ally in shaping a sustainable future through energy efficiency and technological innovation. This partnership is a prime example of how strategic alliances can yield fruitful outcomes in tackling climate issues while promoting economic growth in the clean energy sector.
Frequently Asked Questions
What is the main goal of the TCT agreements?
The primary goal is to enhance grid resiliency and support America's shift to clean energy through tax credit transferability.
How are Schneider Electric and Kimberly-Clark working together?
They are collaborating on funding battery energy storage projects to advance sustainable solutions in energy management.
What are the targets set by Kimberly-Clark for decarbonization?
Kimberly-Clark aims to halve its greenhouse gas emissions and achieve 100% renewable electricity in North America by 2030.
What types of projects are being funded?
The agreements will finance multiple battery energy storage facilities, enhancing the capacity of renewable energy generation.
How does this partnership impact the renewable energy market?
This partnership sets a precedent for corporate collaboration in sustainability and could inspire further investments in renewable energy initiatives.
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