Arevon Secures $351M for 251 MW Gibson Solar Project, Bringing Clean Energy to 30,000 Homes

Arevon Energy, Inc., a top renewable energy developer, owner, and operator, has secured $351 million in financing for the 251 MWdc Gibson Solar Project in Gibson County, Indiana. Now under construction, the project will create over 250 construction jobs and provide more than $83 million in payments to the local government over its lifetime. Once operational, Gibson Solar will generate enough clean energy to power over 30,000 homes annually.

“Financial close and the start of construction are two major milestones for the Gibson Solar Project that I am pleased to celebrate alongside the Arevon team,” Denise Tait, Chief Investment Officer at Arevon said. “Gibson Solar represents our sixth completed financial package in the last year, amounting to $3 billion in capital. These closings would not be possible without our partners, and we are grateful for their continued trust and collaboration in executing deals that enable a clean energy future.”

“Providing capital for renewable energy developments is one of the ways we realize our mission to ensure the sustainability and vitality of our nation’s rural agricultural communities. CoBank is pleased to partner with Arevon in support of the Gibson Solar Project to encourage economic development and employment opportunities for local communities,” Justin Merkowitz, Managing Director and Head of Project Finance at CoBank said.

“As we celebrate Arevon’s fourth utility-scale project that is under construction and financed in Indiana, we extend our gratitude to our valued partners – CoBank, Societe Generale, and PNC Bank. Additionally, our collaboration with NIPSCO will help the utility take the next step in their electric generation transition to provide sustainable, cost-effective, and reliable energy to their customers,” Kevin Smith, Chief Executive Officer at Arevon said. “Long term, the Gibson Solar Project will strengthen the local economy and increase energy security.”