What Arevia Power does

Arevia Power is a privately held utility-scale solar photovoltaic and battery storage project developer and owner, founded in 2015 by Mark Boyadjian and headquartered in Glendale, California. The company originates, develops, constructs, finances, and operates utility-scale renewable energy projects with an active early-stage portfolio spanning Nevada, California, and Arizona, and stated intent to expand across the broader United States. Its leadership team — including Managing Partner Mark Boyadjian and Chief Development Officer Ricardo Graf — has collectively developed, originated, or constructed more than 2 gigawatts of utility-scale solar PV since 2008.

Arevia's core offering is end-to-end project lifecycle management, spanning market research and site identification, land acquisition, permitting, interconnection, battery storage integration, power purchase agreement (PPA) structuring, financing, construction oversight, and operations. Battery storage has been integrated as a standard component of its projects, enabling solar-plus-storage configurations targeted at utilities seeking firm clean energy and corporate/industrial customers seeking load-shaped generation. The company differentiates on a capital model that allows meaningful early-stage investment to de-risk projects prior to PPA execution, an explicit community-first landowner engagement approach, and a documented relationship with the International Brotherhood of Electrical Workers (IBEW) with preference for union labor.

The business model generates revenue through project development, PPA cash flows (including a $2.3 billion solar-plus-storage PPA with NV Energy), and ownership of operating assets, with go-to-market executed via direct enterprise field sales to utilities, corporate and industrial off-takers, federal/state/local government agencies, and landowners. Institutional backing from Kohlberg Kravis Roberts and GCM Grosvenor, combined with more than $600 million in solar project fundraising led by the managing partner, supports the development pipeline. Customers include regulated utilities, corporate and industrial energy buyers, government entities, and landowners entered into long-term lease or purchase arrangements.

Name

Arevia Power

Legal name

Arevia Power

Website

https://areviapower.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Arevia Power is a privately held utility-scale solar PV and battery storage developer and owner founded in 2015. It serves utilities, corporate and industrial customers, government agencies, and landowners across the United States with end-to-end project development services.

Ownership category

akta.pro rank

Product category

Utility-Scale Solar PV Development

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Owner’s Engineering, Grid Interconnection & System Studies (PVsyst/Performance Modeling, Protection Studies) (EUACAGAG), Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB), Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)

Keywords

• Utility-scale solar
• Solar project development
• Battery energy storage
• Power purchase agreements
• Renewable energy development

Headquarters

HQ city

Glendale

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Marketing or Sales

Revenue model

1. Solar Project Development and Ownership: Developing, originating, constructing, and operating utility-scale solar PV projects. Revenue generated through power purchase agreements (PPAs) with utilities, corporations, and government entities. Projects span from early-stage development through construction and into operational phases.
2. Power Purchase Agreements: Long-term contracts for electricity generation with customers including utilities and corporate/industrial buyers. Signed major PPA with NV Energy for a $2.3 billion solar storage project.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Arevia Power develops, owns, and operates utility-scale solar photovoltaic (PV) projects with integrated battery energy storage. The company manages the full project lifecycle — from market research, site identification, and land acquisition through permitting, interconnection, financing, construction, and operations — delivering electricity to utilities, corporations, and industrial buyers primarily through long-term power purchase agreements (PPAs).

Product overview

Arevia Power is a utility-scale solar PV project owner and developer offering a unified service platform that encompasses the entire project lifecycle from market research and site identification through land acquisition, permitting, interconnection, battery storage integration, power purchase agreements, financing, construction, and operations. The company serves multiple customer segments including utilities, corporate and industrial loads, and landowners through integrated solar + battery energy storage solutions. The portfolio focuses on early-stage projects in Nevada, California, and Arizona with expansion opportunities across the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar PV Project Development
• Solar + Battery Energy Storage Solutions
• Power Purchase Agreement (PPA) Services
• Landowner Partnership Program (Lease / Purchase)

Quantifiable outcome

• Over 2 GW of utility-scale solar PV developed, originated, or constructed since 2008
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• International Brotherhood of Electrical Workers (IBEW)coreStrategic or Co-development PartnerArevia has a special relationship with IBEW and strongly prefers working with union labor. The company welcomes union pension fund investment and considers IBEW partnership a fundamental part of their project development approach.
• LandownerscoreChannel Partner/ Reseller/ DistributorArevia engages landowners as partners on the ground who are kept informed throughout the project lifecycle. The company can engage landowners on a long-term lease or purchase basis for solar and battery storage project sites.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lightsource bp: Global utility-scale solar developer and owner with significant U.S. activity. Directly comparable to Arevia as a developer of utility-scale solar + storage projects sold via PPAs to utilities and corporates.
• Avantus (formerly 8minute Solar Energy): U.S. utility-scale solar and storage developer with a strong Western U.S. presence. One of Arevia's closest direct competitors for utility RFPs in California and the Southwest.
• Hecate Energy: Independent utility-scale solar and storage developer active across multiple U.S. ISOs. Comparable business model of developing utility-scale solar + storage projects under long-term PPAs.
• Intersect Power: Clean energy developer focused on utility-scale solar and storage, often paired with data center and corporate offtakers. Closely aligned with Arevia's solar + storage bundled model.
• Recurrent Energy: Developer and owner of utility-scale solar and battery storage projects in North America. Directly comparable end-to-end development platform targeting utility and corporate PPAs.
• Cypress Creek Renewables: Independent solar developer with strong presence across multiple U.S. states. Competes with Arevia for utility-scale solar + storage project development and offtake agreements.

Broad incumbents

• EDF Renewables: Large diversified renewable developer with a substantial U.S. utility-scale solar and storage pipeline. Competes with Arevia for utility RFPs and corporate PPAs across Western U.S. markets.
• Clearway Energy Group: Owner-operator of utility-scale solar and storage assets in the U.S. Competes with Arevia on project origination, PPA pricing, and capital for late-stage development assets.
• Engie North America: Large international utility with a growing U.S. renewable development arm, including utility-scale solar and storage. Competes with Arevia for project sites, offtakers, and capital.

Emerging players

• Candela Renewables: Independent utility-scale solar and storage developer with growing U.S. pipeline. Comparable emerging-stage platform competing against Arevia in ERCOT and Western U.S. markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arevia Power