星期二, 4月 13, 2021
Home PV News Verizon signs PPA with First Solar on 296 MW of under-construction solar

Verizon signs PPA with First Solar on 296 MW of under-construction solar

Verizon Communications has entered into four more long-term renewable energy purchase agreements (REPAs) totaling more than 450 MW of renewable energy capacity as part of its commitment to carbon-neutral operations by 2035. These agreements, which are virtual power purchase agreements, will help finance the construction of new solar facilities and the re-powering of wind energy facilities.
Verizon entered into two REPAs with First Solar for an aggregate of up to 296 MW of capacity from two solar facilities that are under development in the PJM Interconnection regional market and that First Solar intends to power using its lowest carbon footprint solar modules. The agreements with First Solar have 15-year terms from the commencement of each facility’s entry into commercial operations, which is expected in late 2022. The agreements are generally expected to be financially settled.
“In 2019 Verizon issued a $1 billion green bond to help fund the company’s sustainability efforts, including our initiative to source or generate renewable energy equivalent to at least 50% of our total annual electricity consumption by 2025,” said James Gowen, Verizon’s chief sustainability officer and VP of supply chain operations. “Bringing this additional renewable energy to the grids where Verizon consumes energy is an important step towards meeting this commitment.”
Earlier this year, Verizon announced it had entered into REPAs for an aggregate of more than 380 MW of renewable energy under development in Texas and Illinois.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

L&T Construction Bags EPC Order to Set Up 1.5 GW Solar PV Project in Saudi Arabia

The renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has secured a turnkey engineering, procurement, and construction (EPC) contract from the...

Maharashtra govt plans Pumped Hydro Storage plants to support renewables

In what is described to be a gamechanger in stabilizing the power grid, the state government has set its focus on Pumped Hydro Storage...

Partial relief on cards for rooftop solar power projects in Rajasthan

In a partial relief to the rooftop solar industry, the Union power ministry on Friday proposed to allow net metering benefits to projects having...

Loss default guarantee fund to aid solar powered pump buyers

Kolkata: SwitchON Foundation along with Punjab National Bank (PNB) has set up the first ‘loss default guarantee fund’ to offer finance to the marginal...