Arevon Energy, a renewable-energy developer, owner and operator, has secured a $258 million financing package for its 200-megawatt/400-megawatt-hour Peregrine Energy Storage Project in San Diego.
Located in San Diego’s Barrio Logan community, Peregrine Energy Storage will enhance grid stability and reduce the risk of brownouts and blackouts, powering up to 200,000 homes during peak electricity demand periods after it comes online.
Arevon developed, is constructing and will operate the Peregrine Energy Storage Project, which represents a capital investment of almost $300 million and is expected to be online this year.
Peregrine Energy Storage Project marks Arevon’s seventh project to reach financial close in the past 15 months, totaling more than $3.2 billion of financings. For Peregrine, Arevon closed on a $179 million debt package, which will bridge to a preferred equity and tax credit transfer takeout. Subsequently, Acadia Infrastructure Capital structured
