Arevon Energy, Inc. has closed a new $600 million credit facility — with an upsizing option to $850 million — to accelerate the growth of its U.S. renewable energy portfolio. The flexible financing package combines a $350 million revolving loan and letter of credit with a $250 million project letter of credit, enabling Arevon to fund working capital needs, acquisitions, project development, and performance support obligations tied to its expanding pipeline of solar and battery storage assets. 

In line with its sustainability goals, the facility incorporates provisions for green loan reporting and sustainability-linked metrics. “With this financing, we are well-positioned to continue developing and delivering reliable, cost-effective solar and energy storage solutions that are essential in powering an American energy future,” said Bob Krakauer, Arevon’s CFO. 

Wells Fargo Bank, National Association, acted as Administrative Agent, while Wells Fargo Securities, Canadian Imperial Bank of Commerce (New York Branch), and Credit Agricole Corporate and Investment Bank served as Co-Green Loan Structuring Agents and letter of credit issuing banks. The Joint Lead Arrangers on the transaction also included major institutions such as JPMorgan Chase, Bank of America, Barclays, BNP Paribas, Commonwealth Bank of Australia, Natixis, National Bank of Canada, and Societe Generale. MUFG, RBC, TD, and Truist were participant lenders. 

Legal support for Arevon came from Latham & Watkins LLP, with Morgan Lewis advising the lenders. 

The deal underscores growing institutional appetite for financing large-scale renewable infrastructure with robust sustainability frameworks, as well as Arevon’s strategy to expand its diversified portfolio to meet surging clean energy demand across the U.S. 

Scottsdale, AZ-based Arevon owns and operates more than 4.7 GW of solar and energy storage projects across 17 states, representing more than $9.6 billion in capital investment, and is constructing an additional 1.5 GW of new capacity.