Arevon Energy has secured the closing of a $600 million credit facility with an option to increase up to $850 million. The facility will enable the company to expand its development portfolio of solar and energy storage assets across US. The facility consists of a $350 million revolving loan and letter of credit facility and a $250 million project letter of credit facility.
Furthermore, the facility also consists of provisions for green loan reporting and sustainability linked metrics. The funding will provide flexible capital to Arevon Energy to support working capital needs, including acquisitions, project development, and performance support obligations across the company’s portfolio of solar and battery storage projects. The financing was led by Wells Fargo Bank, National Association, that acted as the administrative agent.
Earlier in June 2025, Arevon Energy commenced commercial operations at its Peregrine energy storage project. It is a 200 MW/400 MWh battery storage project in San Diego, California. The $300 million project was developed and is fully owned and operated by Arevon.