INDIANAPOLIS–(BUSINESS WIRE)–Jan 28, 2021–
Lightsource bp today announced that it has entered into a virtual power purchase agreement (VPPA) with Verizon Communications Inc. that will enable construction of a new 152.5 megawatt ac solar farm in Indiana, furthering Verizon’s goal of being carbon neutral in its operations (scope 1 and 2) by 2035.
The Bellflower solar farm, located about 40 miles east of Indianapolis in Henry and Rush Counties, is expected to become 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.”
Local economic development
Solar projects can help strengthen local rural economies.
- Bellflower Solar is expected to generate $30 million in property tax revenue to Rush and Henry Counties over its life, benefiting local schools and other community public services.
- The project will create about 250 jobs during construction, with local labor and service requirements included in construction contracts.
- The operations budget for the project of $2.4 million each year will be primarily spent in the region.
Dual use solar – maximizing benefits to the environment and community
An action plan is underway for Bellflower Solar that aims to enhance local biodiversity.
- The plan is to create a pollinator friendly solar farm, designed in collaboration with ecology experts to restore and conserve pollinator habitat.
- The project will be part of pioneering university research on the benefits of co-locating pollinator habitat and solar installations.
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. For more information visit lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDIANA
INDUSTRY KEYWORD: ENVIRONMENT TECHNOLOGY ALTERNATIVE ENERGY TELECOMMUNICATIONS COMMERCIAL BUILDING & REAL ESTATE ENERGY CONSTRUCTION & PROPERTY
SOURCE: Lightsource bp
Copyright Business Wire 2021.
PUB: 01/28/2021 10:30 AM/DISC: 01/28/2021 10:31 AM
http://www.businesswire.com/news/home/20210128005392/en
