Arevon secures $600M for US solar and storage projects

A $600 million credit facility backed by Wells Fargo, CIBC, Credit Agricole, and others will support Arevon’s solar and battery storage projects across the US.

By Prudhvi Rani 02 Jul 2025 in Business Bytes Project Bytes

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Arevon has secured $350 million in revolving loans and $250 million in project credit for solar and battery growth. Image Source: AI Generated

Scottsdale, Arizona-headquartered Arevon Energy has closed a $600 million credit facility to support its US portfolio. The financing includes a $350 million revolving loan and a $250 million project letter of credit. It is designed to fund project development, acquisitions, and performance obligations for solar and battery assets. The facility has an option to increase to $850 million for additional growth. It also includes provisions for green loan reporting and sustainability-linked metrics. Wells Fargo Bank is the Administrative Agent. Co-Green Loan Structuring Agents are Wells Fargo Securities, CIBC, and Credit Agricole. Other lenders include JPMorgan Chase, Bank of America, Barclays, BNP Paribas, and others. Latham & Watkins advised Arevon, while Morgan Lewis represented the lenders. Major global banks have backed the deal, providing flexible capital for large-scale solar and storage expansion across the US.Prior to this facility, Arevon collaborated with Fifth Third to fund a 265 MW solar installation in Indiana.

#CIBC #Arevon Energy #Wells Fargo #Credit Agricole

Advertisment {'id': '686507dcd6fddd9263439aeb', 'source_name': 'Arevon Energy', 'source_link': 'https://arevonenergy.com/news/releases/arevon-secures-600-million-credit-facility-to-accelerate-renewable-energy-growth-in-the-united-states/', 'contact_name': 'Blair Matocha', 'contact_email': '[email protected]'}

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