Arevon lands US$1.1 billion package for California solar PV and 600MWh BESS project

▤ Summary

Renewables developer and operator Arevon Energy has secured US$1.1 billion in debt and tax equity financing for a solar-plus-storage project in California, which features a 150MW/600MWh BESS.Wells Fargo provided a US$431 million tax equity commitment, while Arevon obtained US$654 million of debt financing including a construction-to-term loan, a tax equity bridge loan and letter of credit facilities. The package will go towards the construction of the 374MWdc Eland solar project.

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