Powering America With Purpose

In 2025, America’s energy system was asked to do more than ever before, as electricity demand rose and the decisions and policies shaping our energy future drew greater public attention across the country.

Driven by data centers, advanced manufacturing, artificial intelligence, overall electrification, and more frequent extreme weather, the need for additional electricity generation in the U.S. has grown rapidly and is expected to continue increasing by an unprecedented amount over the coming decade. The scale of the challenge is significant. New research shows the United States will need more than a terawatt of additional generation and storage capacity by 2040 to maintain reliability and keep the lights on. That’s up to a 50% increase in electricity demand over the next 15 years. Meeting that demand is essential to our economy, our security, and our global leadership.

The path forward is increasingly clear. An all-of-the-above American energy strategy is required, with renewables and energy storage playing a central role. Utility-scale solar and battery storage remain among the lowest-cost sources of new electricity, and they can be built quickly, at scale, on American soil. In 2025, solar accounted for more than half of all new electricity-generating capacity added to the U.S. grid, with solar and storage together making up the vast majority of new builds, providing more than 80% of new generation. Bloomberg projects that new electrons from solar, storage, and wind will outpace those from new natural gas plants by nearly six to one over the next decade.

This growth is also fueling American jobs and manufacturing. More than 280,000 Americans now work in the solar industry alone, with renewable energy supporting more than 460,000 direct jobs nationwide and more than 1.4 million jobs when indirect and induced employment is included. In the third quarter of 2025, the U.S. reached a long-awaited milestone when domestic production began across the full solar module supply chain for the first time in more than a decade. Energy infrastructure is being built at home, by American workers, for American communities.

There is now enough solar energy installed in the United States to power nearly 45 million households. More than 10,000 solar businesses operate across the country, and 41 states are home to either solar or battery storage manufacturing facilities. Utility-scale solar installations continue to set quarterly records, and battery storage is rapidly becoming part of the backbone of the nation’s energy system, helping manage peak demand, reduce outages, and stabilize prices.

This is the context in which Arevon does its work today.

Our purpose is to meet America’s growing energy needs in ways that support communities, steward the land, and keep our country secure and globally strong. In a year defined by rising electricity demand and complex policy dynamics, that purpose guided our decisions at every level. It is not abstract. It is practical. It is reflected in the projects we build, the partnerships we form, and the responsibility we carry to the places that host our work.

Our Progress

Purpose matters most when it shows up in real results.

As electricity demand accelerates and the need for reliable, domestic energy continues to grow, Arevon’s focus has remained steady. We are building infrastructure that strengthens America’s energy system, supports local communities, and delivers long-term value. In 2025, that focus translated into meaningful progress across our operating portfolio, projects under construction, and development pipeline.

Helping Meet America’s Growing Energy Needs

Arevon continues to invest at scale in American energy, helping meet rising demand while strengthening grid reliability and energy independence.

To date, Arevon has deployed more than $11 billion in private capital toward advancing our nation’s energy infrastructure through operational solar and energy storage projects across the United States. Today, we own and operate 6 gigawatts of solar and energy storage capacity, with projects spanning communities coast to coast.

That operational portfolio has real impact:

• Enough solar capacity to power approximately 1.22 million American homes annually
• Energy storage capable of powering 1.23 million homes during periods of peak demand
• $475 million in projected property tax revenue over the life of our projects, supporting schools, roads, emergency services, and other public needs
• More than 4,000 jobs created through the construction of our projects
• Approximately 5.7 million metric tons of carbon emissions avoided annually, contributing to healthier air and communities

In 2025 alone, Arevon raised approximately $2.3 billion in capital and brought 1,364 megawatts (MWdc) of utility-scale solar and 350 MW/1,000 megawatt-hours (MWh) of energy storage online:

Eland Solar-plus-Storage
Kern County, California
758 MWdc of solar with 1,200 MWh of energy storage that can power 7% of Los Angeles¹

Ratts 1 Solar and Heirloom Solar
Both projects in Pike County, Indiana
In total, 264 MWdc of new electricity generation, adding more than $86 million to local tax revenue

Peregrine Energy Storage
San Diego, California
400 MWh of batteries storing electricity for use during high demand intervals, reducing risk of outages

Arevon’s objective is to own and operate the projects we develop. In select cases, partnering with local utilities is the right fit for the community. In 2025, that included 479 MWdc of solar projects in Gibson County and Posey County, Indiana, which were completed by Arevon and are now owned and operated by local utilities.

Gibson Solar
Gibson County, Indiana
251 MWdc

Posey Solar
Posey County, Indiana
228 MWdc

At a time when the U.S. is facing its largest surge in electricity demand in decades, projects like these are scaling quickly to deliver affordable, reliable power through infrastructure built on American soil.

Large-scale solar and storage offer long-term, stable pricing over the multi-decade life of a project, without exposure to volatile fuel costs. That stability strengthens America’s resilience to global energy shocks and helps protect customers from the price swings that have historically accompanied fossil fuel markets.

Building Today, Preparing for What Comes Next

Beyond the projects now in operation, Arevon continues to build for the future.

At the end of 2025, 795 megawatts of solar and battery storage projects were under construction, with an additional 7 gigawatts in active development. These projects represent the next phase of infrastructure needed to support economic growth, new industries, and the evolving demands on the U.S. grid.

Throughout the year, construction began on several major projects, each reflecting Arevon’s approach to combining scale with care for the communities and landscapes where we build, including:

• Kelso 1 & 2 Solar
  Scott County, Missouri
  430 MWdc of new local energy generation to help meet surging electricity demand, also helping power a stronger Missouri community
• Nighthawk Energy Storage
  Poway, California
  1,200 MWdc of energy storage to increase grid resilience and stability while helping reduce electricity costs
• Big Muddy Solar
  Jackson County, Illinois
  124 MWdc of new electricity generation, also helping protect the land and strengthen agriculture

Together, these projects underscore Arevon’s role as a long-term owner and operator, building assets designed to serve communities reliably for decades to come.

Progress Rooted in Vision

Arevon’s progress in 2025 reflects more than growth. It reflects direction.

Our vision is straightforward: a nation where abundant, reliable, American energy powers every household and business, strengthening communities and sustaining prosperity for generations. That vision guides how we think about scale, where we invest, and how we show up in the communities that host our projects.

As a company focused on the U.S. market, Arevon is helping lay the foundation for that future. The projects we delivered in 2025, and those now under construction, are designed to support a stronger grid, resilient communities, and long-term economic vitality.

Despite ongoing challenges across the energy landscape, including complex and changing policy dynamics and supply chain pressures, Arevon is well positioned for continued progress. America’s need for affordable, reliable energy built at home is clear. Our work today is aligned with where the country is headed and with the future we aim to help create.

Supporting Communities

At Arevon, progress is not measured only in megawatts. It is also measured in trust.

From the outset, we have taken a community-first approach to energy development, grounded in the belief that projects succeed when the communities that host them feel respected, informed, and included. That means showing up early, listening carefully, and building projects in partnership with local leaders, landowners, and residents.

Over the past two years, Arevon has significantly expanded its Community Relations team with the goal of building a best-in-class organization dedicated to this work. Our teams are on the ground before construction begins and remain engaged through operations, ensuring local stakeholders have clear points of contact and a meaningful voice throughout a project’s life.

Community engagement at Arevon is not optional or ad hoc. We intentionally incorporate it into how projects are planned, built, and operated. A portion of each project’s capital cost is allocated to community investments as a standard part of development, construction, and operations. This approach ensures that community partnership is built into our work from the start and sustained over time.

Arevon has invested more than $8 million in community initiatives shaped by local priorities. Our community investment strategy focuses on three core areas. We help address food and housing insecurity through partnerships with local organizations. We support education, with an emphasis on STEM programs that open pathways for the next generation, including solar installations that directly benefit local schools. We also promote public health and safety through support for first responders, emergency services, and community health initiatives.

These investments reflect a simple principle. Communities are not just the places where projects are built. They are long-term partners in America’s energy future.

Stewarding the Land

Respect for the land is central to how Arevon approaches energy development.

Our mission is to deliver safe and affordable solar and battery storage projects that put communities first, lead with integrity and innovation, and drive America’s energy independence. That mission guides how we design, construct, and operate every project, including how we care for the land in the neighborhoods where our projects are built.

Every solar and energy storage project is designed with careful consideration for the land it occupies and the people who rely on it. From site selection through long-term operations, Arevon works to protect the character, productivity, and ecological health of each project location.

Across our portfolio, we partner with local experts to develop site-specific vegetation and land management plans that reflect local conditions and priorities. These plans are designed to improve soil health, support native plant species, and restore habitat, ensuring the land remains resilient and productive over time. Stewardship is not an add-on. It is part of how projects are planned from the beginning.

In many locations, Arevon is integrating agricultural practices alongside energy generation. The team is currently evaluating opportunities for sheep grazing at seven new sites and has active grazing programs at four operating projects, allowing farmland to remain in agricultural use while supporting vegetation management and local farm operations. Biodiversity protection measures are in place across 14 operating projects, and pollinator-friendly habitats are being established at three sites under construction to support local ecosystems.

These efforts reflect Arevon’s commitment to responsible land use and long-term thinking. Energy infrastructure should serve today’s needs without compromising tomorrow’s possibilities. By stewarding the land with care and intention, Arevon aims to leave each site ready for future generations.

Our Performance

Performance matters because it reflects how work is done.

In 2025, Arevon’s leadership, projects, and people were recognized across the energy industry, reinforcing our commitment to excellence, accountability, and innovation. These honors span project execution, workplace culture, sustainability, and leadership, and together they reflect a company focused on doing the work the right way.

Arevon was ranked No. 1 in the Americas for Renewable Energy: Solar Power Generation and No. 3 globally in the annual GRESB environmental, social, and governance benchmark assessment. This recognition reflects consistent performance across our portfolio and a disciplined approach to managing environmental and social responsibility alongside long-term value creation.

Our project execution was also recognized nationally. Arevon earned a place in the top 5% of companies on the Solar Power World 2025 Top Solar Contractors List and was named the No. 1 solar developer in California, reflecting our role in strengthening grid reliability through utility-scale solar and energy storage.

Just as important, Arevon’s culture and people-first approach were recognized throughout the year. In 2025, the company received 10 Top Workplace awards, including national recognition as a Top Workplace in Energy and Utilities, as well as honors for innovation, leadership, employee well-being, work-life flexibility, compensation and benefits, appreciation, and DE&I practices. Arevon was also named a USA TODAY Top Workplace, reflecting broad employee engagement and satisfaction.

Individual leaders across the organization were recognized for their impact and leadership. These honors included national awards for sustainability, finance, and energy transition leadership, as well as recognition for rising leaders helping advance land stewardship and responsible development practices. Several team members were also honored with the Employer Support of the Guard and Reserve Patriot Award, recognizing Arevon’s commitment to supporting colleagues who serve our country.

These recognitions are meaningful, but they are not the goal. They are indicators that Arevon’s ethos is being lived in practice.

Our People and Our Partners

None of this progress or recognition would be possible without our people and our partners.

At Arevon, we believe that how we work matters as much as what we build. Delivering energy at scale requires trust, accountability, and collaboration, inside the company and far beyond it. That commitment is reflected in our core Values: Safety, Integrity, Respect, Community, Stewardship, and Innovation. These values guide daily decisions, shape relationships, and set expectations for how we show up for one another and for the communities we serve.

Arevon’s team brings together more than 300 professionals representing over 25 nationalities, with nearly 40% of roles held by women. We are intentional about creating an environment where people feel supported, empowered, and encouraged to grow. At Arevon, people development and project development go hand in hand. Investing in training, leadership development, and well-being strengthens our organization and improves the outcomes of the projects we deliver.

In 2025, our colleagues completed more than 5,300 hours of professional training and contributed over 1,700 volunteer hours, reinforcing our belief that leadership extends beyond the workplace. That culture is reflected in the recognition Arevon received throughout the year, including multiple Top Workplace awards honoring our people-first approach, innovation, leadership, and commitment to employee well-being.

Equally important are the partners who make our work possible. Arevon’s projects are built through long-standing relationships with landowners, local leaders, customers, investors, suppliers, contractors, regulators, and community members. We approach these relationships with humility and care, recognizing that successful energy projects are rooted in collaboration and earned trust.

We are committed to supporting American industry and strengthening domestic supply chains through partnerships with U.S. manufacturers and service providers. By prioritizing local and domestic sourcing where possible, Arevon helps create jobs, strengthen local economies, and reinforce the resilience of America’s energy infrastructure.

At its core, Arevon’s approach is about building relationships, not just projects. The trust we earn with our people and our partners is what allows us to deliver energy responsibly, reliably, and at scale.

Powering America. Strengthening Communities.

In 2025, the energy industry was called on to meet greater and more complex needs, build at unprecedented scale and speed, and navigate geopolitical, supply chain, and policy challenges. Across that landscape, Arevon stayed focused on what matters most: delivering reliable American energy, doing the work responsibly, and building trust with the communities that host our projects.

The progress we made this year reflects the strength of our people, the depth of our partnerships, and the clarity of our purpose. From major utility-scale solar and energy storage projects coming online to continued investment in land stewardship, community partnerships, and American manufacturing, Arevon is helping meet a moment of real need with practical solutions built for the long term.

Looking ahead, the challenges facing America’s energy system are clear. Electricity demand will continue to rise. Energy storage will play an increasingly central role in grid reliability. Communities will expect early, meaningful engagement and lasting benefits. Meeting these needs will require an all-of-the-above energy strategy, grounded in execution, accountability, and respect for people and place.

Arevon enters the next chapter well positioned to lead. Guided by a clear purpose, anchored by strong values, and focused on long-term ownership and operations, we will continue building the infrastructure that powers homes and businesses, supports communities, and strengthens the nation.

This is Arevon. 
Powering America. Strengthening Communities.
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¹Eland Solar-plus-Storage is a two-phase project, with Eland 1 commencing operations in 2024, and Eland 2 in 2025.

Author: Kevin Smith

Chief Executive Officer