Arevon Energy, based in the United States, secured a $400 million green loan fund credit facility from Canadian Imperial Bank of Commerce and KeyBank N.A. The funding has been raised for development of a 6 GW pipeline of solar and storage projects in the Midwest, Southeast, and California.
The innovative hybrid borrowing base for the two-year facility consists of uncalled capital plus an additional component for net asset value. The company currently has 6 GW of renewable energy projects in development or operation, as well as 1 GW of storage capacity. The company provides commercial, financial, performance asset management, and construction services.
Arevon Energy is a renewable energy company that provides clean energy to utilities and enterprises throughout North America. The company is headquartered in Scottsdale, Arizona. It finances and manages projects from development to construction to long-term commercial operation using innovative approaches and cutting-edge technology.