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Kelso 1 & 2 Solar’s $509 million financing, backed by CIBC, Commerzbank, Lloyds, and others, includes bridge and construction loans supporting its 430 MW capacity in Missouri. Image Credit/Source: MarkStebnicki/Pexels
Arevon Energy, Inc., based in Scottsdale, has completed a $509 million financial close for the 430 MW Kelso 1 & 2 Solar Projects in Scott County, Missouri. This marks its first utility-scale solar development in the state. Financing included a $245 million bridge loan, a $172 million construction loan, and $92 million in credit support. The project is expected to generate 450 jobs during peak construction, benefiting local businesses. Once operational, it will provide over $34 million in tax revenue for schools, infrastructure, and public services. CIBC led the financing, with Commerzbank, Commonwealth Bank of Australia, Lloyds Bank, and National Bank of Canada among the lenders. BNY served as Collateral Agent. Arevon is also developing 744 MW of solar in Indiana, investing over $1.1 billion as it expands in the Midwest. Additionally, Arevon Energy’s Big Muddy Solar Project opens office in Illinois to support development and local engagement for its upcoming renewable energy project.
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