We are reporting the anticipated annual amount of avoided emissions for the renewable energy projects to which all of the net proceeds of the second green bond were allocated. The amount reported is estimated based on currently available data.
Renewable energy
Anticipated greenhouse gas (GHG) emissions avoided per year
Estimated annual renewable energy1 multiplied by GHG emissions factor2
1,562,810 MT CO2e avoided annually3
1 The estimated annual amount of renewable energy generated by the projects covered by the VPPAs was determined based on the full amount of our contracted capacity with respect to those projects. 2 Emissions calculated using the EPA eGRID United States Electricity Grid 2019 average (U.S. annual CO2 equivalent total output emission rate (lb/MWh)).See https://www.epa.gov/energy/greenhouse-gases-equivalencies-calculator-calculations-and-references/.
3 Because the green bond proceeds allocated to the VPPAs for the North Carolina and Iowa projects cover only a portion of the estimated total cost of the VPPAs, we have included only an equivalent proportion of the estimated total annual amount of avoided emissions for each project.
1 Based on EPA GHG Calculator (https://www.epa.gov/energy).
