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Verizon unveils 410 MW of renewable PPAs

Verizon unveils 410 MW of renewable PPAs


US telecoms group Verizon Communications Inc (NYSE:VZ) today unveiled four long-term power purchase agreements (PPAs) for 410 MW of renewable energy capacity, meaning it has now surpassed 3 GW of such agreements.

The company has signed 24 PPAs since 2019, including for over 800 MW of capacity that is now operational. It has contracted 180 MW of Duke Energy’s just commissioned 207-MW Ledyard Windpower project in Iowa.

The new deals include two contracts for up to 240 MW with Invenergy, for a facility in the Electric Reliability Council of Texas (ERCOT) market that started operations in 2022 and a facility in the Southwest Power Pool (SPP) regional market.

Verizon has also signed a 12-year agreement with Enel North America for up to 100 MW from a wind project in the SPP market that came onstream in December 2022.

The fourth PPA is with an unnamed party. It is for up to 70 MW from a facility in the Pennsylvania Jersey Maryland (PJM) Interconnection regional market.

The projects will contribute to the company’s target of meeting 50% of its annual electricity consumption with renewables by 2025.

Anand Gupta Editor - EQ Int'l Media Network