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)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)