Kelso Solar project
Project
Arevon Energy entered into two long-term Environmental Attributes Purchase Agreements (EAPA) with Meta, where Meta will purchase the clean energy generated by the 430 MW Kelso Solar project to support its regional operations.
Deal Analysis
Arevon Energy and Meta have announced two long-term Environmental Attributes Purchase Agreements (EAPAs) for the 430 MW Kelso Solar project in the US, with the announcement dated 2026-03-04. Under these agreements, Meta will purchase the clean energy attributes generated by the project to support its regional operations. This transaction represents a strategic move for Meta to advance its clean energy commitments and for Arevon to secure a long-term revenue stream and de-risk a significant utility-scale solar development.
The 430 MW capacity positions the Kelso Solar project as a substantial addition to the US renewable energy landscape. The involvement of Meta, a prominent technology company, as the offtaker underscores the continued trend of major corporations leveraging EAPAs to meet their sustainability targets and power their energy-intensive infrastructure. This deal highlights the robust demand for large-scale solar projects and the critical role of corporate buyers in driving investment and expansion within the renewable energy sector.
- 430 MW utility-scale solar project.
- Long-term Environmental Attributes Purchase Agreements (EAPAs).
- Involvement of Meta, a major technology company, as offtaker.
- Secures clean energy attributes for Meta's regional operations.
Source Intelligence
KEY DETAILS
The project is a two-phase project. It utilizes more than 1.1 million First Solar thin-film modules, which are cadmium telluride (CdTe) panels produced in Ohio, allowing the project to qualify for domestic content incentives under the Inflation Reduction Act (IRA). The project included $92 million in credit support as part of its financing package. Over its 35-year lifespan, the facility is estimated to contribute more than $34 million in tax revenue to local governments. During peak construction, the project employed more than 450 workers.
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Deal Size
The project was supported by a $509 million financing package closed in March 2025.
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Capacity
Arevon’s 430 MW Kelso Solar project begins commercial operation in Missouri
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Location
a 430 MW utility-scale facility in Scott County, Missouri.
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PPA Details
The clean energy generated by Kelso Solar is tied to two long-term Environmental Attributes Purchase Agreements (EAPA) with Meta, supporting the tech giant’s regional operations with carbon-free power.
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Financials
The capital stack included a $245 million bridge loan, a $172 million construction loan, and $92 million in credit support. ... In late 2025, Arevon further de-risked the asset by securing a $250 million tax equity commitment from Wells Fargo.
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COD
Arevon’s 430 MW Kelso Solar project begins commercial operation in Missouri
PARTIES MENTIONED IN SOURCE
A
Arevon Energy
developer
"Arevon Energy has achieved commercial operation at its Kelso Solar project"
M
Meta
buyer
"The clean energy generated by Kelso Solar is tied to two long-term Environmental Attributes Purchase Agreements (EAPA) with Meta"
C
Canadian Imperial Bank of Commerce (CIBC)
lender
"Canadian Imperial Bank of Commerce (CIBC) served as the administrative agent and bookrunner"
C
Commerzbank
lender
"with a lender group including Commerzbank"
L
Lloyds Bank
lender
"Lloyds Bank"
N
National Bank of Canada
lender
"National Bank of Canada"
W
Wells Fargo
investor
"In late 2025, Arevon further de-risked the asset by securing a $250 million tax equity commitment from Wells Fargo."
F
First Solar
supplier
"The facility utilizes more than 1.1 million First Solar thin-film modules."
N
Nextracker
supplier
"The modules are mounted on single-axis trackers from Nextracker"
S
SMA
supplier
"with power conversion handled by 91 SMA inverters."
high quality
Enriched Mar 4, 2026
Global Infrastructure Sherpa