Amazon Unveils its Largest-Ever Renewable Energy Project
Amazon's (NASDAQ: AMZN) crusade against climate change continues. In its latest move, the e-commerce giant has struck a deal to buy 380 megawatts (MW) of wind energy from Hollandse Kust Noord, a wind farm off the coast of Netherlands that's being developed by The Crosswind, a consortium between oil major Royal Dutch Shell (NYSE: RDS.B) and Eneco, a Netherlands-based energy company owned by Japan's Mitsubishi (OTC: MSBHF).
Amazon says this project, called the Amazon-Shell HKN Offshore Wind Project, is also its "largest single-site renewable energy project" yet.
The wind farm is expected to be operational by 2023 with an installed capacity of 759 MW. That means Amazon will buy 50% of its total power starting in 2024 to power its operations in Europe, including 250 MW from Shell and 130 MW from Eneco.
Source Fool.com
