Invenergy and Verizon are advancing their collaboration with new power purchase agreements (PPAs) for a combined total of 640 MW of solar energy. These agreements, announced on February 19, 2025, mark a significant milestone for Verizon, which has now procured over 1 GW of renewable energy from Invenergy, the largest privately held clean energy developer in the U.S.

The projects involved in the latest PPAs include the Richfield Solar project in Maryland, a 50-MW facility that started operations in October 2024, and the Maple Flats project in Clay County, Illinois, which has a 326-MWdc/250-MWac capacity. Also part of the deal are the Cadence Solar farm in Ohio, set to begin operations in 2026, and the Chalk Bluff Solar project in Arkansas, expected to be operational in 2027.

These solar projects are not only set to power Verizon's operations but will also provide clean energy credits. Invenergy estimates the solar projects tied to these PPAs will represent an investment of over $4 billion. In addition to Verizon, Invenergy has secured renewable energy agreements with Meta, Tesla, and Honda, further advancing its clean energy goals.

Chris Orzel, Senior Vice President at Invenergy, highlighted the economic benefits these projects bring to local communities, noting they contribute jobs and increased energy capacity to the U.S. grid.

In addition to the PPAs, Invenergy recently closed a $1.1-billion financing facility for the Cadence, Trade Post, and Yum Yum solar projects, further bolstering its commitment to expanding renewable energy capacity across the U.S.