Arevon and Meta Announce Long-Term Contract for Heirloom Solar Project in Indiana

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Aug 20, 2024, 09:00 ET

Companies partner on third utility-scale renewable energy project commercial agreement, totaling more than 400 megawatts of new clean energy capacity

PETERSBURG, Ind. and SCOTTSDALE, Ariz., Aug. 20, 2024 /PRNewswire/ -- Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, and Meta Platforms, Inc. have signed a long-term Environmental Attributes Purchase Agreement for Arevon's Heirloom Solar Project in Pike County, Indiana.

The 60 megawatt (MWac) Heirloom Solar Project recently started construction and is targeted to be fully operational in Q3 2025. Arevon will own and operate Heirloom Solar, which will provide a host of economic benefits in the project area. Local landowners will receive steady payments throughout the life of the project, allowing them to diversify their income as well as continue farming in the area. Arevon's activities in Pike County, which include the Heirloom Solar Project plus an adjacent solar facility, will disburse more than $86 million to local governments over their lifespans. The projects will also employ nearly 200 full-time equivalent jobs to build the facilities, with the construction activity and the projects' eventual operations boosting the local economy with expenditures at local businesses.

"Arevon is proud to once again partner with Meta and contribute to their sustainability goal of matching its operations with 100% renewable energy and reaching net zero emissions across its value chain," said Kevin Smith, Chief Executive Officer at Arevon. "Pike County has been a welcoming host to the Heirloom Solar Project, and we are excited to be a part of the community for years to come."

"We are pleased to work with Arevon again as we continue the important work of advancing the transition to clean energy," said Urvi Parekh, Head of Renewable Energy at Meta. "We look forward to the Heirloom Solar Project coming online and continuing our partnership."

Previous to Heirloom Solar, Arevon and Meta announced two long-term Environmental Attributes Purchase Agreements in March 2024 for the Kelso Solar Project in Scott County, Missouri. That project will deliver 349 MWac of power to support Meta's regional operations with 100% renewable energy.

About Arevon
Arevon Energy, Inc. is a leading renewable energy company, supplying clean, reliable, and cost-effective energy to utilities and businesses, while powering the energy transition across the United States. Headquartered in Scottsdale, Arizona, and with a regional office in New York City, Arevon's more than 250 mission-driven employees use innovative approaches and leading-edge technology to develop, build, finance, own, and operate renewable energy projects. Arevon owns and operates more than 4,000 megawatts (MW) of utility-scale solar, storage, and solar + storage hybrid projects as well as distributed generation assets in 17 U.S. states. The company is currently constructing more than 2,000 MW of new capacity and has a robust development portfolio of more than 6 gigawatts. For more information, visit www.arevonenergy.com.

SOURCE Arevon