Kimberly-Clark Corporation announced on September 23, 2024, that it has partnered with Schneider Electric to facilitate several new Tax Credit Transfer (TCT) deals. These agreements are designed to fund multiple battery energy storage projects in the Texas region of the United States, supporting the rapid energy transition to a greener grid.
The initiative is a key step in Kimberly-Clark's commitment to sustainability, aiming to reduce absolute greenhouse gas emissions by 50% by 2030 and achieve 100% renewable electricity in North America by the same year. The company's existing virtual Power Purchase Agreements (vPPAs) already source 40% of its U.S. operations' electricity from Texas wind power.
This strategic collaboration highlights Kimberly-Clark's dedication to decarbonization and the advancement of renewable energy solutions. The TCT deals serve as a leading example of how the voluntary market can support developers in fostering critical projects under the IRA's new tax credit transferability mechanism.
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