OAKLAND, Calif.--(BUSINESS WIRE)--Adapture Renewables, Inc., a developer, owner, and operator of utility-scale solar and battery energy storage projects, announced today the signing of three Environmental Attributes Purchase Agreements (EAPAs) with Meta to procure 330 MW of renewable energy from three solar projects under development in Illinois and Arkansas.
Meta is one of the largest corporate buyers of renewable energy, having achieved net zero emissions for its existing global operations in 2020, and it is committed to maintaining these targets as it grows. Adapture Renewables’ partnership with Meta will support Meta’s continued commitment to net zero emissions across its global operations and value chain, including supporting its operations with 100% renewable energy.
The three projects will have an estimated net economic impact surpassing $400 million. These projects are set to create approximately 500 temporary jobs during the construction phase and maintain around 25 full-time equivalent positions during operations, providing ongoing economic benefit to residents of the host communities.
All three projects are situated in federally-designated energy communities where a coal facility had been closed, bringing clean energy investment, jobs and revenue to regions that have been historically dependent on fossil fuels and disproportionately burdened by pollution.
"These solar projects represent an important milestone in continuing our commitment to sustainable operations," said Urvi Parekh, head of Renewable Energy at Meta. "Our partnership with Adapture Renewables underscores our dedication to utilizing renewable energy to support our facilities and fostering a cleaner, greener future for all."
"We are proud to partner with progress-minded, global corporate partners like Meta to drive adoption of renewable energy,” said Jesse Tippett, Vice President of Power Marketing Origination at Adapture Renewables. “Working with Meta on these agreements was a delight. The Meta team was efficient and matched our dedication to scaling clean energy, bringing economic opportunities to the energy communities hosting our projects, and achieving three win-win agreements.”
About Adapture Renewables, Inc.
Adapture Renewables, Inc. is a utility-scale solar and energy storage project developer, owner and operator. The company leverages its proven track record, deep domain expertise and comprehensive in-house development, EPC management, legal, project finance, and asset management capabilities to efficiently and effectively drive projects from origination to long-term operation. Owned by KIRKBI – the private holding and investment company of the Kirk Kristiansen family founded to build a sustainable future for the LEGO® brand through generations – Adapture Renewables, Inc. has the financial footing necessary to take a diligent and thoughtful approach to project development and is invested in its projects’ long-term success. The company’s culture of creative problem-solving and shared mission to accelerate the global transition to clean energy contribute to the company’s success deploying, owning and operating solar and energy storage assets across eleven states in the US. Adapture Renewables, Inc. is based in Oakland, CA. For more information about Adapture Renewables, Inc., visit https://adapturerenewables.com/.
