Arevon Energy, Inc., a leading renewable energy developer, has successfully closed a $509 million financing deal for the 430 MW Kelso 1 & 2 Solar Projects in Scott County, Missouri. This marks Arevon’s eighth major project financing in the past 18 months, bringing its total funding to over $3.7 billion.
The Kelso Solar facilities represent Arevon’s first utility-scale renewable energy project in Missouri. Once operational, they are expected to provide significant economic benefits to Scott County, including approximately 450 construction jobs at peak development. The project will also contribute over $34 million in local government revenue over its lifespan, supporting schools, infrastructure, and essential public services.
The financing package includes a $245 million bridge loan, a $172 million construction loan, and $92 million in credit support. Canadian Imperial Bank of Commerce (CIBC) served as Administrative Agent, Lead Arranger, and Bookrunner, with additional financial backing from Commerzbank, Commonwealth Bank of Australia, Lloyds Bank, and National Bank of Canada. Legal counsel was provided by Amis, Patel & Brewer LLP, Milbank LLP, and Husch Blackwell.
Arevon continues to expand in the Midwest, currently developing four solar projects in Indiana with a combined capacity of 744 MW and an investment of over $1.1 billion. The company remains committed to strengthening the U.S. energy infrastructure through sustainable, utility-scale solar projects.
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