Lightsource BP has entered into a virtual power purchase agreement (VPPA) with Verizon Communications that will support construction of a 152MW (AC) solar project in Indiana, US.
The Bellflower solar farm, located east of Indianapolis in Henry and Rush Counties, is expected to become operational in 2022.
Last year, Verizon issued its second $1bn green bond, which will be used to fund long-term renewable energy purchase agreements, including the Bellflower solar VPPA, which support the construction of solar and wind facilities.
“These facilities will bring new renewable energy to the grids that power our networks,” said Verizon chief sustainability officer James Gowen.
“Verizon is committed to supporting the transition to a greener grid by making substantial investments in renewable energy,” he added.
Bellflower Solar is expected to generate $30m in property tax revenue to Rush and Henry Counties over its life, benefitting local schools and other community public services.
The project will create about 250 jobs during construction, with local labour and service requirements included in construction contracts.
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, said Lightsource BP.