Wal-Mart Stores, Inc. (WMT) Signs Deal With SolarCity Corp. (SCTY)

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Wal-Mart Stores, Inc. (WMT) has signed a deal with SolarCity Corp. (SCTY) that spreads across 36 states.

walmart-solarcity-wmt-sctyThe Walmart, SolarCity deal will have the latter installing solar projects at locations owned by the retailer in 36 states. The two companies have already teamed up in the past and the new deal will last for the next four years.

Previous deals between Walmart and SolarCity have lead to more than 200 completed solar projects since 2010. The company has provided technology to Walmart that has allowed it to test 13 battery storage projects.

The next 10 solar projects being conducted by Walmart and SolarCity will use 200 kilowatt batteries. These batteries will allow the company to store more solar energy, which will in turn reduces costs. These new projects will be started in the next year.

WMT shares were up slightly as of Friday afternoon and SCTY shares were up over 2%.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/11/walmart-solarcity-wmt-scty/.

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