Verizon to buy power from 384 MW of solar, wind parks in US

The Santa Rita East wind farm in Texas. Source: Invenergy

April 22 (Renewables Now) - US telecoms giant Verizon Communications Inc (NYSE:VZ) has signed a number of virtual power purchase agreements (VPPAs) that will help finance the construction of wind and solar parks with a total capacity of 384 MW.

More specifically, Verizon has entered into two long-term contracts with Clearway Energy Group LLC tied to 254 MW of capacity coming from two solar plants in Texas, to be completed in 2023.

Also, the New York City-based telecom operator has inked a deal with Invenergy that will enable the addition of a further 130 MW of capacity at the latter’s Blooming Grove Wind Energy Center in Illinois. That plant is seen to be fully operational by the end of the year.

“We are committed to sourcing or generating renewable energy equal to at least 50% of our total annual electricity usage by 2025,” stated James Gowen, Verizon’s Chief Sustainability Officer and Vice President, Supply Chain Operations.

The company has committed to be carbon neutral in its operational emissions, covering scope 1 and scope 2, by 2035.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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