NEW
YORK and SCOTTSDALE,
Ariz., March 5, 2024 /PRNewswire/ -- Arevon
Energy, Inc., a leading renewable energy developer, owner, and
operator, and Meta Platforms, Inc. (NASDAQ: META) have signed two
long-term Environmental Attributes Purchase Agreements (EAPA) for
the Kelso Solar Project in Scott County,
Missouri.
The Kelso Solar Project will generate 349 megawatts (MWac) of
power and will help support Meta's operations in the region with
100% renewable energy.
"We meet 100 percent our energy demand with renewable power, and
we continue to invest in clean energy projects as we grow. This
partnership with Arevon decarbonizes our operations and contributes
to a more sustainable, resilient energy infrastructure,"
Urvi Parekh, Head of Renewable
Energy at Meta said.
Arevon will own and operate the Kelso Solar Project, which will
provide a myriad of economic benefits in the power plant's vicinity
including more than 450 full-time equivalent construction jobs and
five permanent jobs to operate and maintain the project throughout
its multi-decade lifespan. Land leases with local landowners will
generate millions of dollars in annual revenue, and the solar
facility will disburse more than $34
million to local governments over the life of the project,
with nearly $28 million contributed
to area schools. Construction activity, and the project's continued
operations, will bring about an increase in money spent at local
businesses including stores, restaurants, and hotels.
"Through its Kelso Solar Project, Arevon is pleased to
contribute to Meta's goal of having its global operations supported
by 100 percent renewable energy," Kevin
Smith, Chief Executive Officer at Arevon said. "We
appreciate the opportunity to collaborate with Meta to help in
meeting their admirable sustainability targets and accelerate the
country's energy transition."
The first phase of the Kelso Solar Project is anticipated to
start operations in Q4 2025, with the second phase following
shortly after in Q1 2026.
About Arevon
Arevon Energy, Inc. is a leading renewable energy company,
supplying clean energy to utilities and corporations across
North America. Headquartered in
Scottsdale, Arizona, and
New York City, Arevon uses
innovative approaches and leading-edge technology to develop,
build, finance, own, and operate clean energy projects. Arevon owns
and operates more than 3,500 megawatts (MW) of solar, storage, and
solar + storage hybrid assets and is currently constructing more
than 1,000 MW of new capacity. Arevon has a robust portfolio of
more than 6 gigawatts of projects in development which will enable
the company to provide more clean, cost-effective energy to homes
and businesses. Its financial strength, innovation, and industry
expertise come together to improve the structure and performance of
its platform of solar and energy storage power plants. Arevon was
named one of Arizona's Top
Workplaces in 2022 and 2023. For more information, please visit:
www.arevonenergy.com.
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SOURCE Arevon