Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, has announced the successful completion of a $509 million financial close for the 430 megawatt (MWdc) Kelso 1 & 2 Solar Projects in Scott County, Missouri. This marks Arevon’s eighth project financing in the past 18 months, totaling over $3.7 billion in funding.

The two-phase Kelso Solar facilities, which Arevon developed, will be the company’s first utility-scale renewable energy projects in Missouri. The project is expected to create significant economic benefits in Scott County and surrounding areas, including approximately 450 jobs during peak construction. This activity will boost the local economy with increased spending at businesses like stores, hotels, and restaurants. Once operational, Kelso Solar will contribute more than $34 million to local governments over its multi-decade lifespan, supporting schools, infrastructure, and essential services.BCLP.

“Kelso Solar’s financing is a testament to the close collaboration among all of our financing counterparties, for whom I am grateful for their confidence and trust in Arevon to deliver on our first-class projects,” said Denise Tait, Chief Investment Officer at Arevon. “Arevon’s expanding presence as a top American independent power producer would not be possible without the support of our financial and commercial partners, and I am excited to continue to work together to build a better future through homegrown, responsible energy.”

“CIBC is proud to act as Left Lead Arranger, Coordinating Lead Arranger, Bookrunner, Green Loan Coordinator, and Administrative Agent for the financing of the Kelso Solar Projects,” said Ines Serrao, Managing Director and Head of U.S. Renewables at CIBC. “Supporting leading renewable platforms, such as Arevon, underscores CIBC’s ongoing commitment to the U.S. renewable energy sector, as we work toward enabling a more sustainable economy.”

The $509 million financing for Kelso 1 & 2 Solar 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 the Administrative Agent, Left Lead Arranger, and Bookrunner, while CIBC, Commerzbank, Commonwealth Bank of Australia, Lloyds Bank, and National Bank of Canada acted as the project’s lenders, Coordinating Lead Arrangers, and Green Loan Coordinators. BNY served as the Collateral Agent, with legal counsel provided by Amis, Patel & Brewer, LLP (Sponsor Counsel), Milbank LLP (Lender Counsel), Husch Blackwell (Local Counsel), and BCLP (Lender Local Counsel).

As part of its expansion in the Midwest, Arevon is also constructing four solar projects in Indiana, totaling 744 megawatts, with an investment of more than $1.1 billion, alongside a strong development portfolio in the region.”Utility-scale solar projects are essential contributors in strengthening the American economy through the creation of competitive-wage jobs, local tax revenue, and other steady, reliable benefits that enhance communities,” said Kevin Smith, Chief Executive Officer at Arevon. “Kelso Solar will add resilience and security to America’s energy infrastructure, and Arevon looks forward to advancing our development activities in America’s Heartland.”