Wal-Mart (NYSE: WMT) has entered into an agreement with Duke Energy (NYSE: DUK) to purchase wind energy for its stores in Texas.
This marks the first substantial purchase of wind energy in the U.S. by the world's largest retailer. The deal also represents one of the first sales of power directly from a specific wind project to a major retailer.
Beginning in April 2009, Wal-Mart will purchase electricity directly from Duke's Notrees Windpower Project, located in Ector and Winkler counties, Texas. The project will provide renewable energy to up to 54 of Wal-Mart's 360 stores and facilities in Texas.
The amount of power to be purchased was not disclosed.
The first phase of the Notrees facility is expected to begin commercial operation in December. When completed in 2009, the Notrees project will provide 150 megawatts (MW) of electricity.
Wal-Mart said the project would provide roughly 226 million kilowatt-hours of renewable power each year.
