Arevon Energy, a U.S. renewable-energy developer, owner and operator, has completed a $509 million financial close for the 430-megawatt Kelso 1 & 2 Solar Projects in Scott County, Mo.
Kelso 1 & 2 Solar’s financing package is composed of a $245 million bridge loan, a $172 million construction loan and $92 million of credit support. This transaction represents Arevon’s eighth project financing in the past 18 months, totaling more than $3.7 billion of funding.
Arevon developed and will build and operate the two-phase Kelso Solar facilities, the company’s first utility-scale renewable energy projects in Missouri. This is part of the company’s expansion in the Midwestern United States. In addition to the Kelso 1 & 2 Solar Projects, the company is currently constructing four solar projects totaling 744 megawatts in Indiana, with capital costs of more than $1.1 billion.
“Utility-scale solar projects are essential contributors in strengthening the
