Schneider Electric Partners with Kimberly-Clark for Sustainable Energy Solutions and Decarbonization
Schneider Electric, a global frontrunner in the digital transformation of energy management and automation, has announced its role in facilitating several new TCT deals for Kimberly-Clark Corporation, a major player in the personal care and hygiene sector, recognized for household brands like Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, and WypAll.
Since 2016, Schneider Electric has been a strategic advisor to Kimberly-Clark, assisting the company in its ambitious decarbonization objectives. These goals include a pledge to cut absolute greenhouse gas emissions by 50% by 2030 and to achieve 100% renewable electricity in North America by the same year.
Recently, Schneider Electric has supported Kimberly-Clark in funding multiple battery energy storage initiatives as part of the swift transition to a greener energy grid in America. These TCT agreements reflect one of the numerous strategies Kimberly-Clark is employing to promote sustainable solutions. Additionally, these projects exemplify how the voluntary market can aid developers in advancing critical initiatives through the new tax credit transferability provisions of the Inflation Reduction Act (IRA).
The collective efforts on these projects contribute to enhancing battery energy storage in Texas, aligning with Kimberly-Clark's commitment to advancing renewable energy storage and generation. Currently, Kimberly-Clark’s virtual Power Purchase Agreements (vPPAs) provide clean energy from Texas wind, accounting for 40% of the total renewable energy use in its U.S. operations, with Schneider Electric’s guidance.
The specifics of the new Investment Tax Credit Transfer agreements are as follows:
Since 2016, Schneider Electric has been a strategic advisor to Kimberly-Clark, assisting the company in its ambitious decarbonization objectives. These goals include a pledge to cut absolute greenhouse gas emissions by 50% by 2030 and to achieve 100% renewable electricity in North America by the same year.
Recently, Schneider Electric has supported Kimberly-Clark in funding multiple battery energy storage initiatives as part of the swift transition to a greener energy grid in America. These TCT agreements reflect one of the numerous strategies Kimberly-Clark is employing to promote sustainable solutions. Additionally, these projects exemplify how the voluntary market can aid developers in advancing critical initiatives through the new tax credit transferability provisions of the Inflation Reduction Act (IRA).
The collective efforts on these projects contribute to enhancing battery energy storage in Texas, aligning with Kimberly-Clark's commitment to advancing renewable energy storage and generation. Currently, Kimberly-Clark’s virtual Power Purchase Agreements (vPPAs) provide clean energy from Texas wind, accounting for 40% of the total renewable energy use in its U.S. operations, with Schneider Electric’s guidance.
The specifics of the new Investment Tax Credit Transfer agreements are as follows:
- A TCT agreement worth $82.5 million for a 180 MW battery energy storage facility
- A TCT agreement of $68 million for a 100 MW battery energy storage project
- A TCT agreement amounting to $55 million for a 100 MW battery energy storage initiative
- A TCT agreement totaling $32 million for another 100 MW battery energy storage facility
“Today’s announcement highlights Kimberly-Clark's commitment to decarbonization and the progress of renewable energy solutions. We are optimistic that these innovative collaborations will continue to drive the green transition forward,” stated **Lisa Morden**, Chief Sustainability Officer at Kimberly-Clark.
“Kimberly-Clark's investment in the renewable energy landscape is evident through its role in promoting battery storage technology via tax credit transferability. Partnering with Schneider Electric, the company is setting a precedent for future investments from the voluntary market to support innovative projects,” remarked **Steve Wilhite**, President of Schneider Electric’s Sustainability Business.
“Moreover, Kimberly-Clark's dedication to financing the clean energy transition in response to the IRA illustrates the company’s commitment to sustainability. Tax credit transfers empower corporations to provide significant financial backing to developers, fostering essential projects that expedite America’s energy transition, which Schneider Electric is proud to facilitate,” added Wilhite.
Companies