Commercial, Solar, Sourcing Renewables, Wind - January 20, 2022
Verizon Signs Wind and Solar Deals
Verizon Communications announced that it has entered into 15-year Renewable Energy Purchase Agreements (REPAs) for wind and solar to help the company achieve its goal to be net zero in its operational emissions (Scope 1 and 2) by 2035.
The agreement with Leeward Renewable Energy calls for Verizon to purchase the energy generated from four of Leeward’s wind and solar projects under development: Blackford County Wind in Indiana, Horizon Solar in Texas, White Wing Ranch Solar in Arizona, and an 80 MW wind project in development with details to come.
These projects will have the capacity to generate up to 640 MW of clean energy. Construction of all projects is expected to be completed by June 30, 2024, with each project also providing jobs and economic benefits to its surrounding community.
"Since 2019, Verizon has issued three $1 billion green bonds to support our climate strategy, including our expansive renewable energy initiatives," said James Gowen, Verizon's chief sustainability officer and senior vice president, global supply chain in a statement. "Through investments in clean energy solutions — like these agreements with Leeward Renewable Energy — Verizon is doing its part to green the U.S. energy grid."
The projects will utilize wind turbines and thin-film panels from U.S. renewable technology manufacturers. Leeward’s contracted solar panel supply with First Solar will enable reliable project delivery for Verizon and further positions Leeward to execute on its aggressive growth and resource diversification strategy.
Verizon and Leeward already have REPAs in place for the 196 MW Big Plain and 100 MW Oak Trail solar projects.