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WOONSOCKET, R.I. — CVS Health will purchase zero-emission, renewable energy from Constellation Energy Corp. equivalent to the annual electricity use of its 147 stores in Michigan.
Through a 12-year agreement beginning in April 2025, CVS will buy energy and renewable energy certificates (RECs) from Swift Current Energy’s Double Black Diamond Solar Project in Illinois. This is made possible by a long-term agreement between Constellation and Swift Current Energy under which Constellation will purchase a portion of the energy and RECs generated by Double Black Diamond. Construction of the project began in March.
In total, CVS will procure approximately 35,000 megawatt hours of energy per year from Double Black Diamond, which is expected to help the company reduce its carbon footprint by nearly 17,000 metric tons annually. This is the equivalent emissions of nearly 3,800 gasoline-powered passenger vehicles driven for one year, according to Environmental Protection Agency greenhouse gas equivalencies.
Sheryl Burke
“We continue to see the significant impact the environment has on our health and well-being,” said Sheryl Burke, SVP of Corporate Social Responsibility and Chief Sustainability Officer for CVS . “That’s why we’re focused on investing in clean, renewable energy and advancing all our sustainability commitments to improve the health of our planet.”
CVS will use the Constellation Offsite Renewables (CORe) product to facilitate its renewable energy transaction. CORe connects customers to the economic and sustainability benefits of large-scale, offsite renewable energy projects and is among Constellation’s suite of retail power products that help customers achieve their carbon reduction goals. Customers also have opportunities to utilize the regionally produced hourly carbon-free energy matching solution, which matches power when they need it most.
“By entering into this enduring relationship, CVS Health is embracing sustainable energy sources, while supporting a newly constructed renewable resource,” stated Jim McHugh, Chief Commercial Officer at Constellation. “We take great pride in supporting CVS Health on its path towards sustainability and providing them with a carbon-free energy solution that propels their efforts in reducing emissions.”
Investing in renewable energy is part of CVS ‘ commitment to reducing its environmental impact. Recognized as a corporate leader in climate action, the company was one of the first in the world to have its net-zero targets validated by the Science-Based Target Initiative. CVS continues to reduce resource consumption across its operations through lighting and transportation upgrades, optimizing digital solutions to reduce paper, alternatives to single-use bags and offering products that are good for customers and the environment.
For more information about CVS Health’s ongoing efforts to build a healthier, more equitable and sustainable future, view the company’s ESG Report.
Eric Lammers, co-founder and CEO, Swift Current Energy, said, “We are delighted to add CVS Health as the latest customer that will benefit from the emissions-free energy produced by our Double Black Diamond solar project. Double Black Diamond is one of the largest solar projects under construction in the US and is supporting construction jobs, as well as U.S. manufacturing jobs associated with the steel foundations, the tracker systems, and the solar modules. We look forward to bringing the project online next year.”
With an estimated total capacity of 593 MWac, Swift Current Energy’s Double Black Diamond solar project will produce electricity sufficient to power the equivalent of more than 100,000 homes from its location in Sangamon and Morgan counties, Illinois.
