As of July 2021, Verizon has fully allocated the $994 million of net proceeds of our second green bond entirely to VPPAs for renewable energy projects. The VPPAs were executed between July 2020 and July 2021, are expected to be financially settled and support renewable energy projects under development in 7 states- Illinois, Indiana, Iowa, Maryland, North Carolina, Ohio and Pennsylvania. These VPPAs are for approximately 1 GW of new renewable energy generating capacity, of which about 83% is solar energy generating capacity and about 17% is wind energy generating capacity. Approximately 58% of the capacity is in the PJM regional market and about 42% of the capacity 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.
Illinois
250
Solar
MISO
15
2023
Indiana
152.5
PJM
2022
Iowa
180
Wind
Maryland
50
North Carolina
100
Ohio
225
Pennsylvania
75