Latest news with #AdaptureRenewables
Yahoo
13 hours ago
- Business
- Yahoo
Adapture Renewables Expands Partnership with Meta Through Two New Agreements in Texas
OAKLAND, Calif., June 25, 2025--(BUSINESS WIRE)--Adapture Renewables, Inc., a utility-scale solar and energy storage developer and owner-operator, announced the execution of two Environmental Attributes Purchase Agreements (EAPAs) with Meta. These agreements support Meta's sustainability goals and reinforce the ongoing collaboration between the two companies to advance clean energy deployment at scale. The agreements total 360 MW across two solar projects located in ERCOT that are expected to reach commercial operation in 2027. These projects represent a significant milestone for both Adapture Renewables' growing development pipeline as well as Meta's renewable energy portfolio. As demand for electricity surges, driven in part by the rapid growth of data centers and AI technologies, utility-scale solar projects like these are increasingly critical to meeting grid-wide energy needs. These new EAPAs build on the three previously executed agreements between Adapture Renewables and Meta in 2023, bringing the total number of agreements between the companies to five, and total capacity to nearly 700MW across three states. "This expanded partnership reflects the trust and alignment we've built with Meta over time," said Jesse Tippett, VP of Origination at Adapture Renewables. "By structuring long-term agreements that balance risk and value for both parties, we're helping to scale meaningful projects while enabling our partners to meet their clean energy goals." "Meta is always looking for opportunities to bring new renewable energy to the grid, and partnerships like this help make that possible," said Amanda Yang, Co-Head of Clean and Renewable Energy at Meta. "We're excited to expand our relationship with Adapture Renewables through these new agreements and continue supporting projects that move the energy transition forward." 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 and project finance services to efficiently and effectively drive projects from origination to long-term operation. Owned by KIRKBI Climate – 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 its success deploying, owning and operating solar and energy storage assets across twelve states, along with a pipeline of projects in development across the US. Adapture Renewables, Inc. is based in Oakland, CA. For more information about Adapture Renewables, Inc., visit View source version on Contacts For Adapture Renewables,
Business Wire
13 hours ago
- Business
- Business Wire
Adapture Renewables Expands Partnership with Meta Through Two New Agreements in Texas
OAKLAND, Calif.--(BUSINESS WIRE)--Adapture Renewables, Inc., a utility-scale solar and energy storage developer and owner-operator, announced the execution of two Environmental Attributes Purchase Agreements (EAPAs) with Meta. These agreements support Meta's sustainability goals and reinforce the ongoing collaboration between the two companies to advance clean energy deployment at scale. 'This expanded partnership reflects the trust and alignment we've built with Meta over time,' said Jesse Tippett, VP of Origination at Adapture Renewables. The agreements total 360 MW across two solar projects located in ERCOT that are expected to reach commercial operation in 2027. These projects represent a significant milestone for both Adapture Renewables' growing development pipeline as well as Meta's renewable energy portfolio. As demand for electricity surges, driven in part by the rapid growth of data centers and AI technologies, utility-scale solar projects like these are increasingly critical to meeting grid-wide energy needs. These new EAPAs build on the three previously executed agreements between Adapture Renewables and Meta in 2023, bringing the total number of agreements between the companies to five, and total capacity to nearly 700MW across three states. 'This expanded partnership reflects the trust and alignment we've built with Meta over time,' said Jesse Tippett, VP of Origination at Adapture Renewables. 'By structuring long-term agreements that balance risk and value for both parties, we're helping to scale meaningful projects while enabling our partners to meet their clean energy goals.' 'Meta is always looking for opportunities to bring new renewable energy to the grid, and partnerships like this help make that possible,' said Amanda Yang, Co-Head of Clean and Renewable Energy at Meta. 'We're excited to expand our relationship with Adapture Renewables through these new agreements and continue supporting projects that move the energy transition forward.' 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 and project finance services to efficiently and effectively drive projects from origination to long-term operation. Owned by KIRKBI Climate – 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 its success deploying, owning and operating solar and energy storage assets across twelve states, along with a pipeline of projects in development across the US. Adapture Renewables, Inc. is based in Oakland, CA. For more information about Adapture Renewables, Inc., visit
Yahoo
07-03-2025
- Business
- Yahoo
Adapture secures $321m from MUFG for Titanium solar portfolio
Utility-scale projects developer Adapture Renewables has secured $321m in financing from Mitsubishi UFJ Financial Group (MUFG) to support the construction of the 441MW Titanium solar portfolio in the US. The financing facility is structured as a construction loan and a tax credit bridge loan. Adapture Renewables' Titanium solar portfolio spans three sites across the states of Arkansas and Illinois, which will generate enough clean energy to power 71,000 homes annually. The construction of the first site, the Cooks Mill project, began in September 2024 and will be operational by early 2026. The project will include 116,000 solar panels and is one of two solar energy projects Adapture Renewables is developing in central Illinois. By locating the projects in Department of Energy-designated Energy Communities, Adapture Renewables aims to provide both clean power and long-term economic benefits to these regions. Adapture Renewables managing director of project finance Ben Schneider stated: 'These projects will play a significant role in delivering clean energy while also driving economic opportunities and community benefits in these Arkansas and Illinois municipalities. 'Debt capital partnerships like this enable us to scale our development and construction pipeline so that we can make a difference in communities across America.' This transaction marks Adapture Renewables' first collaboration with MUFG, which served as the lead arranger and administrative agent for the financing. MUFG managing director Louise Pesce stated: 'This transaction underscores the financial community's confidence in Adapture Renewables as a leading project developer. 'We are pleased to offer a customised financing solution to support Adapture Renewables' largest portfolio to date, and we look forward to future collaborations as they continue to grow.' In December 2023, Adapture Renewables acquired three solar projects in the US totalling 333MW from TED Renewables. "Adapture secures $321m from MUFG for Titanium solar portfolio" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
05-03-2025
- Business
- Yahoo
Adapture secures $321m from MUFG for Titanium solar portfolio
Utility-scale projects developer Adapture Renewables has secured $321m in financing from Mitsubishi UFJ Financial Group (MUFG) to support the construction of the 441MW Titanium solar portfolio in the US. The financing facility is structured as a construction loan and a tax credit bridge loan. Adapture Renewables' Titanium solar portfolio spans three sites across the states of Arkansas and Illinois, which will generate enough clean energy to power 71,000 homes annually. The construction of the first site, the Cooks Mill project, began in September 2024 and will be operational by early 2026. The project will include 116,000 solar panels and is one of two solar energy projects Adapture Renewables is developing in central Illinois. By locating the projects in Department of Energy-designated Energy Communities, Adapture Renewables aims to provide both clean power and long-term economic benefits to these regions. Adapture Renewables managing director of project finance Ben Schneider stated: 'These projects will play a significant role in delivering clean energy while also driving economic opportunities and community benefits in these Arkansas and Illinois municipalities. 'Debt capital partnerships like this enable us to scale our development and construction pipeline so that we can make a difference in communities across America.' This transaction marks Adapture Renewables' first collaboration with MUFG, which served as the lead arranger and administrative agent for the financing. MUFG managing director Louise Pesce stated: 'This transaction underscores the financial community's confidence in Adapture Renewables as a leading project developer. 'We are pleased to offer a customised financing solution to support Adapture Renewables' largest portfolio to date, and we look forward to future collaborations as they continue to grow.' In December 2023, Adapture Renewables acquired three solar projects in the US totalling 333MW from TED Renewables. "Adapture secures $321m from MUFG for Titanium solar portfolio" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
