As of February 2022, Verizon has allocated over $991 million of net proceeds of our third green bond entirely to VPPAs for renewable energy projects. The VPPAs, which were executed between June 2021 and December 2021, are expected to be financially settled and support renewable energy projects under development in 7 states – Arizona, Illinois, Indiana, Iowa, Ohio, Pennsylvania and Texas.
These VPPAs are for approximately 0.9 GW of new renewable energy generating capacity, of which about 51% is wind energy generating capacity and about 49% is solar energy generating capacity. Over 17% of the capacity is in the CAISO regional market, about 22% is in the ERCOT regional market, about 41% is in the PJM regional market, and 20% is in the MISO regional market. We have significant energy usage in these markets.
These renewable energy projects further our strategy to minimize our environmental impact by adding renewable energy generation capacity to the grids that power our networks and avoiding greenhouse gas emissions associated with fossil fuel energy generation.
CAISO
2024
Illinois
80
Wind
PJM
2023
Indiana
200
Iowa
180
MISO
2022
Ohio
50
Pennsylvania
40
ERCOT
