Verizon surpasses 3.0 gigawatts of projected renewable energy capacity
12 Janvier 2023 - 2:30PM
Verizon signed four new long-term renewable energy purchase
agreements (REPAs) for an aggregate of up to 410 megawatts (MW) of
renewable energy capacity. With these new agreements, Verizon has
surpassed 3.0 gigawatts (GW) of total projected renewable energy
capacity, as it continues to be a leading buyer of U.S. renewable
energy. These agreements also position the company to meet its goal
to source or generate renewable energy equivalent to 50 percent of
its total annual electricity consumption by 2025.
Since 2019, Verizon has signed 24 REPAs for more than 3.0 GW of
projected renewable energy capacity, which is roughly equivalent to
8.4 million megawatt hours (MWh) of annual electricity production,
enough to power more than 707,000 homes for a year1.
These agreements also support Citizen Verizon, the company’s
responsible business plan for economic, environmental and social
advancement.
"We are proud to be among the leading corporations in the U.S.
in buying renewable energy," said Matt Ellis, executive vice
president and chief financial officer at Verizon. "We are also a
leader in green financing, issuing four green bonds totaling $4
billion in as many years, allowing us to further support and invest
in renewable energy to deliver on our goal to be net zero in our
operational emissions (scope 1 and 2) by 2035.”
Overview of Verizon’s new REPAs
- Two REPAs with Invenergy for an aggregate of up to 240 MW of
renewable energy capacity. The projects include a facility in the
Electric Reliability Council of Texas (ERCOT) regional market that
became operational in 2022; and a facility in the Southwest Power
Pool (SPP) regional market.
- A 12-year REPA with Enel North America for an aggregate of up
to 100 MW of anticipated renewable energy capacity. The wind
facility, located in the SPP regional market, became operational in
December 2022.
- A REPA for an aggregate of up to 70 MW of anticipated renewable
energy capacity. The facility is located in the Pennsylvania Jersey
Maryland (PJM) Interconnection regional market.
To date, seven renewable energy facilities relating to Verizon's
REPAs for an aggregate of more than 800 MW of capacity are
operational. This includes the wind facility relating to Verizon’s
previously announced REPA with Duke Energy Sustainable Solutions,
which recently became fully operational.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is one of the world’s leading providers of
technology and communications services. Headquartered in New York
City and with a presence around the world, Verizon generated
revenues of $133.6 billion in 2021. The company offers data, video
and voice services and solutions on its award-winning networks and
platforms, delivering on customers’ demand for mobility, reliable
network connectivity, security and control.
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Media contact:Eric
Wilkenseric.wilkens@verizon.com201-572-9317@ericwilkens
1
https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
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