Le Lézard
Classified in: Oil industry, Environment, Science and technology
Subject: ESG

Schneider Electric & Kimberly-Clark Announce Tax Credit Transfer ("TCT") Agreements to Advance Grid Resiliency


BOSTON, Sept. 23, 2024 /PRNewswire/ -- Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced having facilitated several new TCT deals by Kimberly-Clark Corporation, one of the world's leading manufacturers of personal care and hygiene products and owner of household brands such as Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, and WypAll.

Since 2016, Schneider Electric has served as a strategic advisor to Kimberly-Clark in the manufacturer's ambitious decarbonization goals. These include a commitment to reduce absolute GHG emissions by 50% (1) by 2030 and progressing towards 100% renewable electricity in North America by 2030.

Most recently, Schneider Electric acted as a strategic advisor to Kimberly-Clark to help fund multiple battery energy storage projects as part of the rapid energy transition to green America's grid. These TCT deals represent one of the many approaches Kimberly-Clark is taking to advance sustainable solutions. The projects also serve as leading examples of how the voluntary market can support developers fostering key projects using the IRA's new tax credit transferability mechanism.

The work on these collective projects supports the advancement of battery energy storage in the Texas, USA, region, aligned with Kimberly-Clark's support of the green transition in renewable energy storage and generation. Kimberly-Clark's current vPPAs produce clean power from wind in Texas, which makes up 40% of its total electricity use by U.S. operations in renewable energy that Schneider Electric has advised on.

Details of the new Investment Tax Credit Transfer agreements include:

"Today's announcement is one of many examples of Kimberly-Clark's dedication to decarbonization and advancement of renewable energy solutions, and we hope that these types of innovative collaborations will continue to advance the green transition," said Lisa Morden, Kimberly-Clark's Chief Sustainability Officer.

"Kimberly-Clark's dedication to supporting the renewable energy landscape is evident in its contribution to the advancement of battery storage technology through tax credit transferability. Working together with Schneider, the company is paving the way for future investments from the voluntary market to support developers fostering innovative projects," said Steve Wilhite, President, Schneider Electric's Sustainability Business.

"Furthermore, Kimberly-Clark's commitment to funding the clean energy transition in response to the IRA underscores the company's dedication to sustainability. Tax credit transfers enable corporations to provide substantial financial support to developers; fostering projects crucial for accelerating America's energy transition, which Schneider Electric is proud to support," continued Wilhite.

Related resources: 

About Schneider Electric

Schneider's purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

www.se.com

Discover Life Is On  ?  Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Discover the newest perspectives shaping sustainability, electricity 4.0, and next-generation automation on Schneider Electric Insights.

Hashtags: #PressRelease #Sustainability #TaxCreditTransfer

SOURCE Schneider Electric


These press releases may also interest you

at 21:15
Mitsubishi Electric Corporation (TOKYO: 6503) announced today that the international nonprofit CDP has once again given Mitsubishi Electric its highest "A List" rankings for both Climate Change and Water Security activities. The top ratings recognize...

at 20:00
CleanMax, one of Asia's leading renewable energy and net-zero solution provider for the Commercial and Industrial (C&I) sector and a Brookfield-backed company today announced a new Power Purchase Agreement with Amazon, which includes the development...

at 18:06
From February 5 to 7, 18 Costa Rican companies are participating in the global fruit and vegetable trade summit: Fruit Logistica 2025, with the aim of attracting international buyers...

at 17:49
Investments in critical minerals are essential for Canada to seize the economic opportunities presented by a low-carbon economy and to capitalize on its rich mineral resources. Canada is well positioned to be a global leader and a reliable supplier...

at 16:20
Infinity Natural Resources, Inc. ("Infinity") announced today that the underwriters of its previously announced initial public offering ("IPO") of 13,250,000 shares of its Class A common stock have fully exercised their option to purchase an...

at 16:15
LSB Industries, Inc. ("LSB") , today announced that it will release its financial results for the fourth quarter and full year ended December 31, 2024 on Wednesday, February 26, 2025 after the close of the stock market. LSB's management will host a...



News published on and distributed by: