Amazon Makes Renewable Energy History. Here's Why Investors Should Love the News.
Amazon (NASDAQ: AMZN) grew its renewable energy portfolio by 8.3 gigawatts (GW) in 2022. That set the record for the most renewable energy purchased by a company. It brought the company's total portfolio to more than 20 GW, which is enough to power 5.3 million homes.
With those purchases, Amazon remains the largest corporate buyer of renewable energy, a title it has held since 2020. The company continues to make new investments, positioning it to achieve its renewable energy goal well ahead of schedule.
Amazon secured 133 new renewable energy projects across 11 countries last year, setting another record for securing new energy projects. They run the gamut. It continues tapping into one of the world's best renewable energy resources by securing new offshore wind projects in Europe. The company also added its first on-site solar project at the Amazon Air Hub in California. Meanwhile, it's supporting the development of three wind-solar hybrid projects in India.
Source Fool.com
