Verizon has entered into seven renewable energy purchase agreements (REPAs)with three organizations for a total of 910 megawatts (MW) of renewable energy. The carrier says total purchases equate to half of its projected annual electrical consumption by 2025.
Counting these agreements, Verizon has entered into 20 REPAs since December 2019. The agreements total approximately 2.6 gigawatts in 11 states. Verizon says that more than 4.8 million metric tons of CO2 emissions will be avoided annually.
“We are proud to achieve this key milestone in the transition to renewable energy,” Matt Ellis, Verizon’s executive vice president and chief financial officer, said in a press release. “These new agreements will be funded by our third $1 billion green bond, which we issued in September 2021, and are fundamental to the company’s ongoing efforts to be net zero in its operational emissions (scope 1 and 2) by 2035.”
The seven agreements:
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