Amazon (NASDAQ: AMZN) inches up in pre trading session on Wednesday as 133 new projects across 11 countries increased its renewable energy capacity by 8.3 gigawatts (GW) in 2022, according to the company. With 401 renewable energy projects in 22 countries, Amazon’s portfolio now totals more than 20 GW, or enough energy to power 5.3 million U.S. households. The grids that power Amazon’s activities, including Amazon Web Services (AWS) data centers, Amazon fulfillment centers, and physical shops throughout the world, continue to add new wind and solar projects as a result of the company’s renewable energy acquisitions.
Amazon has now declared more renewable energy than any other corporation in the past year, breaking a previous record. According to Bloomberg New Energy Finance, the firm has maintained its position as the largest corporate purchaser of renewable energy since 2020. Through creative transaction structures, technology, and cloud solutions, Amazon’s ongoing investment in renewable energy contributes to accelerating expansion in new regions.
Amazon will reach its goal of using only renewable energy to power its facilities by 2025, five years earlier than its initial 2030 objective, thanks to these acquisitions. In addition to breaking ground in Brazil, India, and Indonesia in 2022, the business announced additional projects in Australia, Canada, Finland, France, Germany, Japan, Poland, Singapore, Spain, and the United States. With 25 additional renewable energy projects signed to end the year, the firm now has 401 projects worldwide, including 237 rooftop solar panels on Amazon buildings and 164 wind and solar farms. Once operational, Amazon’s international renewable energy projects are anticipated to produce 56,881 GWh of clean energy annually.
Adam Selipsky, CEO of AWS stated that they are happy to be on schedule to power their operations with 100% renewable energy, five years ahead of their initial plan, and they continue to develop additional renewable energy projects across the world. Amazon had another record year in 2022 with 133 projects in 11 nations announced. These initiatives demonstrate our capacity to introduce new technology to untapped areas and further mitigate the effects of climate change, as well as the variety of their renewable energy sources.
Etsy Inc (NASDAQ:ETSY) is Benefiting from E-Commerce Trends
Etsy Inc (NASDAQ:ETSY) surges in pre trading session on Wednesday as according to a research report from Oppenheimer, it might profit from trends suggesting that e-commerce grew throughout the holiday season. The price objective was increased by the analysts, who grade the company as outperform, from $125 to $150, representing a 9% increase from the current price.
Citing their own data as well as data from Similarweb, the analysts said that site visits increased by 7% in the fourth quarter compared to a year earlier, which represents an acceleration from the third quarter’s rise of 3% and the second quarter’s fall of 5%. Unique visitors increased more quickly as well, rising 15% in the fourth quarter compared to 7% in the third, according to the experts.
Friday afternoon saw a more than 2% increase in Etsy stock, bringing the year-to-date gain to 14.5%. Data, according to Oppenheimer, indicated that e-commerce companies had been increasing market share since July. According to the research paper, SpendingPulse analytics revealed share growth over the Christmas season. Etsy is a website where independent sellers and artists may sell their goods.
JD.com Inc. (NASDAQ: JD) Aims to Shut Indonesia, Thailand Operation
Chinese online retailer, JD.com Inc. (NASDAQ: JD) rose around 1.4% in pre trading session on Wednesday as In order to focus on supply-chain and logistics services, the business is shutting its online stores in Thailand and Indonesia. According to announcements on the companies’ websites, JD.ID in Indonesia will stop taking orders in the middle of February and terminate all services by the end of March, while JD Central in Thailand will stop operating on March 3.
The company said in an email, “JD.com will continue to serve the global markets, including Southeast Asia, through its supply chain infrastructure. “We are developing in international markets by focusing on building a cross-border supply chain network with logistics and warehousing at the core.”