Wells Fargo has been providing its customers with peace of mind financially for many years. And now, it will be able to provide them with peace of mind environmentally. Wells Fargo has decided to harness Texas solar power to energize some of their in-state locations. In fact, they plan to use renewable solar energy to power 400 of their locations.
To accomplish this, the company signed a 10-year renewable energy agreement with a local solar company. The solar company will construct and maintain the Texas solar farm, while Wells Fargo will purchase 62,000 MWh of solar energy every year. Construction of the solar farm is expected to begin in 2020, with electricity production beginning in 2021.
Richard Henderson, head of Well Fargo’s Corporate Properties Group, is happy with this new transition into cleaner, greener Texas solar power. “Wells Fargo is focused on continuing to demonstrate leadership in the transition to a low carbon economy,” he said. “Transitioning from the purchase of renewable energy certificates to long-term contracts that fund new sources of renewable energy is a critical piece of Well Fargo’s 2020 renewable energy goal.
“Through structured retail transactions… we can continue to minimize our impact on the environment while supporting the communities where we work and live… Maximizing our onsite solar generation is a simple way to help reach our renewable energy goal while enhancing the value of our significant real estate portfolio.”
Wells Fargo doesn’t intend to stop there. It plans to install solar panels on more than 100 of its various facilities throughout the nation. In 2018, the company made a sustainable financial commitment through 2030- a $200 billion commitment, to be exact. And at least 50% of that is going straight into renewable energy and clean technology projects.
Texas solar power is being used by more and more people every day to power their homes and businesses. And when you think about all the savings it’s no surprise that Wells Fargo is joining the movement! This strong commitment to clean, Texas solar power will hopefully be emulated by many more companies and residents to come in the future. Sunpro Solar is looking forward to seeing Wells Fargo shine with solar power.
Sunpro Solar has helped thousands of homeowners make the switch to solar in Texas. If your interested in saving while produce clean, solar energy like Wells Fargo we can help.