AT&T has signed virtual power purchase agreements for 960 MW of wind and solar projects by Invenergy and Duke Energy Renewables, pushing the telecommunication giants’ renewable energy purchases to more than 1.5 GW total.
The latest renewable energy purchases by AT&T will support the financial costs of wind and solar projects, including 800 MW in developments by Invenergy. The deals also include 160 MW of wind generated by the Frontier WindPower II project.
This 350-MW Frontier WindPower II is being built in Oklahoma and developed by Duke Energy Renewables, the commercial investment wing of North Carolina-based utility Duke Energy. The first Frontier WindPower has been operational since 2016.
“AT&T is investing in renewable energy because it is good for our planet and our business,” said Charlene Lake, Chief Sustainability Officer & Senior Vice President, Corporate Social Responsibility. “AT&T’s new renewable energy purchases are a milestone in our company-wide efforts to help address climate change, and they will deliver important benefits to our bottom line.”
The new purchase agreements build upon AT&T’s existing agreements supporting wind energy centers already operational or under development. Together, AT&T’s renewable energy purchases to date are expected to reduce greenhouse gas (GHG) emissions by an amount equivalent to providing electricity for more than 560,000 homes or taking 690,000 cars off the road for one year.
A virtual power purchase agreement (VPPA)–unlike a physical PPA in which the acquired energy is delivered directly to the customer–is a financial arrangement in which the buyer acquires renewable energy credits. The project and the buyer do not have to be located in the same grid region.