Meeting the Solar Energy Capacity of 450 MW

 Technology Today Bureau

Verizon Communications has entered into 4 more solar energy agreements to acquire a total 450 MW capacity of solar energy. The company has announced that it aims to become carbon-neutral by 2035. These are virtual Power Purchase Agreements (PPAs) which will finance re-powering of wind energy infrastructure and to construct new solar energy infrastructure.

Verizon has made agreements with Brookefield Renewables for wind-energy infrastructures in New York for 160 MW usage of wind energy. The re-powered facilities are expected to become completely functional by 2021. Its 296 MW of solar energy shall come from First Solar in PJM Interconnection in Pennsylvania.

"In 2019 Verizon issues a USD 1 Billion Green bond to finance the generation or acquire renewable energy that equals at least 50% of our total energy consumption by 2025."

--James Gowen, Chief Sustainability Officer & VP, Supply Chain Operations, Verizon

Earlier in 2020, Verizon had acquired around 380 MW of renewable energy around Texas and Illinois.