A leading renewable energy developer, Arevon Energy has secured $1.1 billion for Eland 2 Solar-plus-Storage Project in Kern County, California, slated for a Q1 2025 launch. The 374 MWdc solar project, coupled with 150 MW / 600 MWh of energy storage, is under early-stage construction. Wells Fargo provides $431 M tax equity, while a $654 M debt financing is facilitated by CIBC, BNP Paribas, CoBank, Commerzbank AG, Commonwealth Bank, and National Bank of Canada. J.P. Morgan also contributes as the Joint Lead Arranger. Legal representation includes Amis, Patel & Brewer, LLP for Arevon, Milbank LLP for Lenders, and Sheppard Mullin for Tax Equity.
Arevon Energy secures $1.1B financing for California solar storage project
Caption: California’s Eland 2 Solar-plus-Storage Project by Arevon secures $1.1 billion. (Image Credit: Arevon Energy)
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