Lightsource bp Signs Power Contract With Verizon

Lightsource bp today reported that it has gone into a virtual force buy understanding (VPPA) with Verizon Communications Inc. that will empower development of another 152.5 megawatt ac solar farm in Indiana, facilitating Verizon's objective of being carbon unbiased in its activities (scope 1 and 2) by 2035.

The Bellflower solar farm, situated around 40 miles east of Indianapolis in Henry and Rush Counties, is required to get operational in 2022.

“Through their corporate sustainability commitment, Verizon is spurring development of clean and affordable energy sources in the U.S. that benefit us all,” said Kevin Smith, CEO of Lightsource bp in the Americas. “Working together, we’re reducing carbon emissions from electricity generation for the overall grid while delivering substantial local economic benefits. Adding initiatives to enhance local biodiversity further multiplies solar’s contribution to preserving our planet for future generations.”

“Last year, Verizon issued its second $1 billion green bond, which will be used to fund long-term renewable energy purchase agreements – including this agreement with Lightsource bp – that support the construction of solar and wind facilities. These facilities will bring new renewable energy to the grids that power our networks,” said James Gowen, Verizon’s chief sustainability officer and vice president, supply chain operations. “Verizon is committed to supporting the transition to a greener grid by making substantial investments in renewable energy.”

About Lightsource bp

Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team includes over 500 industry specialists, working across 14 countries. We provide a full service to our customers, from initial site selection, financing and permitting through to long-term management of solar projects. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Houston. Since late 2017, the team has developed a pipeline of more than of more than 8 gigawatts of large-scale solar projects at various stages of development across the United States with about 2 gigawatts of contracted assets representing almost $2 billion in near term projects.