Verizon adds six PPAs for 845MW solar capacity

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Verizon

Major telecoms provider Verizon has secured power purchase agreements (PPAs) for 845MW of solar electricity with four energy giants in the US.

The PPAs with Lightsource BP, Invenergy, EDF Renewables and NextEra Energy Resources will be used to finance six solar projects which are due to be completed over the next two years.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Invenergy and Verizon have signed three 15-year PPA to fund one 250MW capacity plant located in the Midcontinent Independent System Operator (MISO) regional market, and two 275MW capacity projects in the Pennsylvania Jersey Maryland (PJM) Interconnection market. The telecoms company has signed three more 15-year PPAs with Lightsource BP, EDF Renewables and NextEra Energy for PJM-located projects with a capacity of 152.2MW, 92.5MW and 75MW respectively. The facilities are all expected to come online by the end of 2023.

The agreements mean that Verizon will be supplied with electricity from renewables projects with a total capacity of 1.7GW on the completion of the latest round of solar farms.

James Gowen, Verizon’s chief sustainability officer, said the company had issued a second green bond worth US$1 billion last year, which would be used to fund the offtaking contracts.

“These facilities will bring new renewable energy to the grids that power our networks,” he said, adding the company will continue to make “substantial investments in renewable energy” in the coming years.

Corporations bought 18% more clean energy in 2020 compared with the previous year, according to research from BloombergNEF, with tech giant Amazon and oil and gas group Total leading the transition through long-term PPAs. Verizon was one of the top five biggest spending corporate entities in the market, and the third most influential solar energy buyer, the market researcher found.

Read Next

June 5, 2025
US renewable power developer Invenergy has commissioned the 250MW Hardin III Solar Energy Center in the US state of Ohio.
June 3, 2025
A joint venture featuring global oil major bp will begin construction on a 240MW solar PV project in Azerbaijan.
May 23, 2025
As European power markets consolidate and become more competitive, the increasing frequency of negative capture prices is challenging the viability of renewable energy projects.
Premium
May 23, 2025
The PPA is a 'cornerstone' of the European renewables space, according to speakers at Solar Media's Renewables Procurement & Revenue Summit.
May 22, 2025
US energy utility AES has signed two long-term power purchase agreements (PPAs) with technology giant Meta for two solar PV projects in the US states of Texas and Kansas.
May 21, 2025
There is potential for cPPAs to deliver the energy transition, according to speakers at the Renewables Procurement and Revenue Summit.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece