PVTIME – Arevon Energy, Inc, a leading provider of renewable energy solutions, has triumphantly closed a staggering $509 million financing deal for its 430MW Kelso 1 & 2 solar projects in Scott County, Missouri. This remarkable achievement marks Arevon’s eighth successful major project financing in the last 18 months, bringing its cumulative total to more than $3.7 billion.
Picture: Arevon Energy
The Kelso Solar facility, which will be developed and operated by Arevon Energy, is the company’s first utility-scale renewable energy project in Missouri. These projects are of significant strategic importance and economic value and will provide a windfall of economic benefits to Scott County once operational. At the peak of the development phase, it is estimated that approximately 450 construction jobs will be created locally. This will not only alleviate employment concerns, but also provide local residents with a variety of employment opportunities and a steady income stream.
In addition, the Kelso Solar Project is expected to contribute more than $34 million to the Scott County government over its lifetime. This influx of funds will be used to strengthen local schools, improve infrastructure and provide essential public services, providing a significant boost to the county’s economic growth and the well-being of its people. The implementation of the Kelso Solar Project will undoubtedly have a lasting positive impact on Scott County.
The financing plan for this ambitious project includes a $245 million bridge loan, a $172 million construction loan and a $92 million credit enhancement. Canadian Imperial Bank of Commerce (CIBC) played the key roles of administrative agent, lead arranger and bookrunner for this financial transaction. In addition, a number of financial institutions provided additional financial support. Together, they are ensuring the seamless execution of the Kelso Solar Project.
In an earlier development in February 2025, Arevon Energy also completed the financing for its 200 MW/400 MWh Peregrine energy storage project. Located in the Barrio Logan community of San Diego, California, the Peregrine battery energy storage project saw Arevon secure a $179 million debt package. This funding serves as a stepping stone to a subsequent preferred equity and tax credit transfer. As Arevon continues to make waves in the renewable energy space, these projects are testament to the company’s commitment to driving the clean energy revolution.
