Arevon Energy has achieved a $509 million financial close for the 430 MW Kelso 1 & 2 solar projects. These projects are located in Scott County, Missouri. The Kelso Solar facilities will be developed and operated by Arevon Energy. This $509 million financing package consists of a $245 million bridge loan, a $172 million construction loan, and $92 million of credit support.
Furthermore, the Canadian Imperial Bank of Commerce (CIBC) was the administrative agent, left lead arranger, and bookrunner for this financial deal. CIBC, Commerzbank, Commonwealth Bank of Australia, Lloyds Bank, and National Bank of Canada served as the lenders, coordinating lead arrangers, and green loan coordinators for the projects.
Earlier in February 2025, Arevon Energy completed financing for its 200 MW/400 MWh Peregrine energy storage project. Peregrine is a battery energy storage system project located in the Barrio Logan community of San Diego, California. Arevon secured a $179 million debt package for the project, which will serve as a bridge to a preferred equity and tax credit transfer takeout.
