Wind and Solar Projects to Generate up to 640 Megawatts of Reliable, Clean Energy through 15-Year Agreements
DALLAS, January 20, 2022--(BUSINESS WIRE)--Leeward Renewable Energy ("Leeward") today announced that it has entered into 15-year Renewable Energy Purchase Agreements (REPAs) with Verizon Communications ("Verizon"), through which Verizon will purchase the energy generated from four of Leeward’s wind and solar projects under development: Blackford County Wind, Horizon Solar, White Wing Ranch Solar projects, and an 80 MW wind project in development with details to come (collectively, the "Projects").
In aggregate, the Projects will have the capacity to generate up to 640 megawatts (MW) of reliable, clean energy, which will help Verizon achieve its goal to be net zero in its operational emissions (scope 1 and 2) by 2035. Construction of all projects is expected to be completed by June 30, 2024, with each project also providing jobs and economic benefits to its surrounding community.
"Since 2019, Verizon has issued three $1 billion green bonds to support our climate strategy, including our expansive renewable energy initiatives," said James Gowen, Verizon's chief sustainability officer and senior vice president, global supply chain. "Through investments in clean energy solutions -- like these agreements with Leeward Renewable Energy -- Verizon is doing its part to green the U.S. energy grid."
The Projects will utilize wind turbines and thin-film panels from America’s industry leading renewable technology manufacturers. Leeward’s contracted solar panel supply with First Solar will enable reliable project delivery for Verizon and further positions Leeward to execute on its aggressive growth and resource diversification strategy. Together Leeward’s growth strategy and project execution reliability enhance its ability to continue delivering value-driven energy solutions to its customers.
Andrew Flanagan, Chief Development Officer at Leeward stated, "We are excited to expand our established relationship with Verizon, which speaks to Leeward’s strengths as a partner in helping our nation’s leading companies meet their sustainability goals. We are pleased to be recognized as a company that safely and successfully delivers reliable wind, solar and energy storage solutions to innovative companies across the country. We look forward to continue building on this momentum to achieve our vision of harnessing renewable energy to power the world."
The four Projects include:
Blackford Wind: Located in Blackford County, Indiana, the Blackford Wind project will have a generation capacity of 200 MW. Construction of the facility is expected to begin in February 2023 and be completed by December 31, 2023.
Horizon Solar: Located in Frio County, Texas, the Horizon Solar project will have a generation capacity of 200 MW. Construction of the facility is expected to begin in September 2022 and be completed by December 31, 2023.
White Wing Ranch Solar: Located in Yuma County, Arizona, the White Wing Ranch Solar project will have a generation capacity of 160 MW. Construction of the facility is expected to begin in May 2023 and be completed by June 30, 2024.
80 MW Wind Project: In development with details to come.
Verizon and Leeward have an existing relationship through previously signed REPAs for the 196 MW Big Plain and 100 MW Oak Trail solar projects.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$114 billion in net assets (as at June 30, 2021). For more information, visit www.leewardenergy.com.
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Sard Verbinnen & Co.