Verizon Communications Inc. has entered into long-term renewable energy purchase agreements with Clearway Energy Group and Invenergy. These agreements, which are virtual power purchase agreements, will help finance the construction of new wind and solar farms.
“We are committed to sourcing or generating renewable energy equal to at least 50% of our total annual electricity usage by 2025,” says James Gowen, chief sustainability officer and vice president of Verizon.
“The purchase agreements with Clearway and Invenergy will help us meet our commitment while increasing the supply of renewable energy to the power grids by almost 400 MW,” he adds.
Verizon entered into two agreements with Clearway Energy Group for an aggregate of up to 254 MW of capacity from two solar energy facilities being developed by Clearway in Texas. These facilities are expected to become operational in 2023.
Verizon’s agreement with Invenergy, a privately held global developer and operator of sustainable energy solutions, supports the development of an additional 130 MW of renewable energy capacity at Invenergy’s Blooming Grove Wind Energy Center in Illinois. The facility is expected to be fully operational by the end of this year.
Bringing additional renewable energy to the grids where Verizon consumes energy is an important step towards meeting their commitment to be carbon neutral in operational emissions by 2035.
Photo: Verizon Communication’s Sustainability web page