The $30 billion electric plant in India that Walmart plans to build in India has been dubbed as the largest in the world, a deal that is expected to boost the US giant’s efforts to improve its climate impact.
A Walmart spokesman told TechRadars that the electric power plant would be powered by a 1,400 megawatt (MW) plant that would be built on a 4.3-acre site in the western city of Gandhinagar, India.
Walmart’s Indian operations are the world’s largest.
It currently has four large solar power plants, a new 1,500 MW facility and an expansion of the existing plant.
The project is part of Walmart’s plans to invest $5.6 billion in India and to invest at least $50 billion globally in renewable energy over the next decade.
India has a climate-friendly economy that has also emerged as a climate leader, having overtaken China in terms of renewable energy generation, generating more than 80% of its energy in 2017, according to the United Nations Climate Change Authority.
According to a Walmart spokesperson, the new power plant will generate enough electricity to power 3,000 households, the equivalent of an American household for two days.
In the first quarter of 2018, Walmart reported $9.2 billion in income, with the majority of it coming from the sale of its Walmart Express stores, which operate as a direct competitor to the Walmart Supercenter, which carries Walmart products.
“We are excited to be partnering with Walmart to create an innovative new power generation system for India that can significantly enhance our company’s energy efficiency efforts and address our country’s climate goals,” said Walmart CEO Doug McMillon.
We’re working with Walmart, a leader in clean energy, to create the most efficient and sustainable power source in the industry.
The project is expected have a total of 4,000 MW capacity.
Last year, Walmart signed a deal with the government of India to build the $5bn electric power project in India.
The agreement was signed in March of last year and the plant will begin operations in 2021.
As part of the deal, Walmart has pledged to invest an additional $1.7 billion to support the project, which includes $4.3 billion in direct payments and an additional 5.2 million dollars in indirect payments over the course of the project.
Walmart plans on generating about 40% of the electricity from solar power, which has a low greenhouse gas emissions.
This is the third major US energy project to be built in India in the last two years, following the announcement in January of a $2 billion wind farm in the country.