Aug 26, 2014

Verizon Wireless Invests $40 Million in Solar

2 min
Verizon Wireless, the largest U.S. wireless carrier, announced Monday it was investing $40 million in 10.2 MW of solar projects across 5 states.

Verizon Wireless, the largest U.S. wireless carrier, announced Monday it was investing $40 million in 10.2 MW of solar projects across 5 states.

The installations will be at eight Verizon facilities in California, Maryland, Massachusetts, New Jersey, and New York. The project will nearly double the amount of solar Verizon utilizes.

Verizon believes the company’s future lies in solar, as the rapidly decreasing costs and ease of access make it a great investment.

“Solar is a proven technology,” James Gowen, Verizon’s chief sustainability officer, told Bloomberg in an interview. “It didn’t hurt that the technology is getting better and prices are coming down.”

This new investment makes Verizon the biggest U.S. telecom company to invest in solar.

“In fact, we project that Verizon will be among the top 20 of all companies nationwide in terms of the number of solar installations it operates, and one of the top 10 companies in the U.S. based on solar generating capacity,” Rhone Resch, president of the Solar Energy Industries Association (SEIA), said.

Last year, Verizon invest $100 million in solar and fuel cell technology in hopes of lowering utility bills and improving its sustainability efforts.

“Our investment in on-site green energy is improving the quality of life in the communities we serve by reducing CO2 levels and reducing strain on commercial power grids, while increasing our energy efficiency,” Gowen said. “By almost doubling the amount of renewable, solar energy we’re using, we are making further progress toward Verizon’s goal of cutting our carbon intensity in half by 2020, in part, by leveraging the proven business case for clean-energy alternatives to the commercial power grid.”

Currently, Verizon has deployed 14.2 MW of on-site green energy, which is comprised of a combination of solar and fuel cells. 

Share article

Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.

The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.

In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.

The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.

Share article