Arevon Energy, Inc., a leading U.S.-based energy developer, owner, and operator, has closed a $600 million credit facility to support its growing portfolio of renewable energy projects nationwide. The facility includes an option to expand up to $850 million.
The financing package consists of a $350 million revolving loan and letter of credit facility, along with a $250 million project letter of credit facility. The capital will provide Arevon with the flexibility to support acquisitions, project development, and performance obligations across its solar and battery storage assets.
The facility also incorporates green loan reporting and sustainability-linked metrics, aligning with Arevon’s environmental, social, and governance commitments.
Wells Fargo Bank, National Association, served as Administrative Agent, with Wells Fargo Securities, Canadian Imperial Bank of Commerce (New York Branch), and Crédit Agricole CIB acting as Co-Green Loan Structuring Agents and issuing banks. The financing was arranged by a syndicate of Joint Lead Arrangers, including JPMorgan Chase Bank, Bank of America, Barclays, BNP Paribas, Commonwealth Bank of Australia, Natixis, National Bank of Canada, and Société Générale. MUFG, RBC, TD, and Truist participated as lenders.
