Verizon Nearly Doubles Renewable Energy Purchase Agreements Posted on Share
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Verizon announced today that it had made six long-term renewable energy purchase agreements (REPAs) since September, making the company one of the largest corporate REPA buyers in the country. The agreements are for 845 megawatts (MW) of renewable energy.
The company has purchased 1.7 gigawatts of renewable energy since December 2019, and nearly half of those purchases were made in just the four months since September 2020.
Solar is also part of Verizon’s renewable energy plan. The latest REPAs are designed to help the carrier finance six new solar facilities that are under development and are part of the company’s efforts to reach carbon neutrality in its operations (scope 1 and 2) by 2035.
Jan 28, 2021 12:16pm
Verizon lays claim to being one of the largest corporate buyers of U.S. renewable energy after notching 13 long-term renewable energy purchase agreements (REPAs). (Getty Images)
Verizon is laying claim to being one of the largest corporate buyers of U.S. renewable energy after notching 13 long-term renewable energy purchase agreements (REPAs).
The REPAs accounted for nearly 1.7 gigawatts (GW) of renewable energy capacity since December 2019, including six REPAs relating to 845 megawatts (MW) of renewable energy capacity since September of last year.
The six new agreements, like the earlier REPAs, were virtual power purchase agreements and are expected to help finance the powering of six new solar facilities that are under development.
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Lightsource bp Signs Power Contract With Verizon for 152.5 Megawatt Solar Farm in Indiana
January 28, 2021 GMT
INDIANAPOLIS (BUSINESS WIRE) Jan 28, 2021
Lightsource bp today announced that it has entered into a virtual power purchase agreement (VPPA) with Verizon Communications Inc. that will enable construction of a new 152.5 megawatt ac solar farm in Indiana, furthering Verizon’s goal of being carbon neutral in its operations (scope 1 and 2) by 2035.
The Bellflower solar farm, located about 40 miles east of Indianapolis in Henry and Rush Counties, is expected to become operational in 2022.
Lightsource BP has entered into a virtual power purchase agreement (VPPA) with Verizon Communications that will support construction of a 152MW (AC) solar project in Indiana, US.
The Bellflower solar farm, located east of Indianapolis in Henry and Rush Counties, is expected to become operational in 2022.
Last year, Verizon issued its second $1bn green bond, which will be used to fund long-term renewable energy purchase agreements, including the Bellflower solar VPPA, which support the construction of solar and wind facilities.
“These facilities will bring new renewable energy to the grids that power our networks,” said Verizon chief sustainability officer James Gowen.