Arevon Energy has signed three 20-year indexed renewable energy credit (REC) contracts with Ameren Illinois, Commonwealth Edison Company, and MidAmerican Energy Company for its 200 MWac/275 MWdc Panther Energy Project in Perry County, Illinois. The project is expected to begin construction in 2027 and be completed in 2028.
The contracts follow Panther Energy’s selection in the Illinois Power Agency’s Summer 2026 Indexed REC procurement, which the Illinois Commerce Commission approved. Under the procurement, the project was selected to deliver 421,131 RECs in its first year, distributed among the three utilities through separate long-term contracts. The RECs will help the utilities meet their obligations under Illinois’ Renewable Portfolio Standard.
Earlier, in September 2026, Arevon Energy made construction progress on the Cormorant battery energy storage system project in Daly City, California. The project has an installed capacity of 250 MW/1,000 MWh and is expected to commence operations in 2027. The project will use lithium iron phosphate battery technology and can supply power to 321,000 homes for up to a four-hour duration.
