Arevon Secures $183 Million Debt Package for its Big Muddy Solar Project in Illinois

Agreement funds the energy facility's ongoing construction and adds to the company's notable track record of $5.1 billion in completed project financing transactions in the last two years

SCOTTSDALE, Ariz. and MURPHYSBORO, Ill., Feb. 25, 2026 /PRNewswire/ -- Arevon Energy, Inc., a leading American energy developer, owner, and operator, has secured a $183 million total debt package — including a tax equity bridge loan, construction-to-term loan, and a letter of credit — for its 124 megawatt (MWdc) Big Muddy Solar Project in Jackson County, Illinois. This project financing supports the continued advancement of Big Muddy Solar's construction and contributes to Arevon's cumulative total of $5.1 billion in project financings executed over the last two years.

Big Muddy Solar Project, the company's first utility-scale energy facility in Illinois, began construction in 2025. The project will strengthen the local economy through the estimated 250 personnel it will employ during peak construction as well as the more than $12.6 million in property tax payments it will disburse over its lifetime to Jackson County, supporting schools, roads, and other infrastructure. Ongoing construction activities will also bring an increase in spending at area stores, hotels, restaurants, and other businesses. Once operational, Big Muddy Solar will generate enough domestically-produced electricity to power more than 24,000 Illinois homes. In addition to producing secure, homegrown energy, the project will provide a safe, thriving home for pollinators, turning the land beneath and around the solar panels into a habitat that helps protect the soil and America's important pollinator population.

As the developer and long-term owner and operator of Big Muddy Solar, Arevon is committed to prioritizing community giving throughout the lifecycle of its projects. The company is proud to partner with and support numerous local organizations, including fire departments, school districts, emergency services, and others, and looks forward to continuing to be an active member of the community throughout the project's construction and multi-decade operations.

For the debt package, Intesa Sanpaolo and Crédit Agricole are the Lenders, Coordinating Lead Arrangers, Joint Bookrunners, and Green Loan Coordinators. Crédit Agricole is also the Administrative Agent. BNY is the Collateral Agent, Latham & Watkins served as Sponsor Counsel, and Milbank LLP was the Lender Counsel. Husch Blackwell served as Sponsor Local Counsel, and BCLP served for the Lender Local Counsel.

"With each completed financing, Arevon reinforces its position as an industry leader in developing and operating utility-scale projects that benefit communities by creating jobs, contributing tax payments to support local entities, and producing safe, affordable, American-made energy," said Denise Tait, Chief Investment Officer at Arevon. "This successful close is yet another example of Arevon's commitment to work in lock step with our partners, delivering long-term value for our financial counterparties as well as lasting benefits to communities."

"The Big Muddy Solar Project further reinforces Arevon's leadership within the solar space and demonstrates the company's commitment to and expertise in expanding renewable energy solutions across the country," said Daniel Feigin, Head of the Energy & Infrastructure Group North America at Crédit Agricole CIB. "We are proud to expand our partnership with the Arevon team through this facility and look forward to the project's eventual operations."

"We are proud to have acted as Coordinating Lead Arranger, Joint Bookrunner, and Green Loan Coordinator for this transaction," said Nicola Doninelli, Head of Distribution Platforms & GTB at Intesa Sanpaolo – IMI CIB Division. "It underscores Intesa Sanpaolo's steadfast commitment to supporting low-carbon and sustainable energy solutions that address the growing energy demand in the United States, while building long-term partnerships with leading developers such as Arevon."

Arevon is actively growing its portfolio in the Midwest region of the United States. In the past several months, the company announced the start of the operations at its Ratts 1 and Heirloom Solar Projects, a cumulative investment of $400 million and 264 MWdc of new domestic solar power in Indiana, and has finalized construction on the $500 million, 430 MWdc Kelso Solar Project in Missouri. In addition, Arevon developed and managed construction of the 251 MWdc Gibson Solar Project and the 228 MWdc Posey Solar Project in Indiana on behalf of local utilities while ensuring the projects were successfully integrated into each community. Arevon is also actively advancing development on other proposed renewable energy facilities in the region.

About Arevon Energy, Inc.
Arevon is a U.S. energy leader committed to powering America with affordable, reliable, and secure homegrown energy. Headquartered in Scottsdale, Arizona, and with a regional office in New York City, the company's experienced and dedicated team develops, finances, builds, owns, and operates renewable energy projects nationwide. With a strong track record in utility-scale solar and energy storage, Arevon is a trusted partner to utilities and businesses seeking cost-effective, sustainable energy solutions. By prioritizing American manufacturing and domestic energy production, the company invests in U.S. jobs, strengthens local economies, and advances the country's energy independence. 

Arevon owns and operates more than 6 gigawatts (GW) of solar and energy storage projects across 18 states, representing more than $11 billion in capital investment, and is currently constructing more than 600 megawatts (MW) of new capacity. The company also partnered with local utilities to develop and build 480 MW of solar energy, ensuring each project was successfully integrated into their communities. In the last two years, Arevon has completed $5.1 billion in project financings and closed on a $600 million corporate revolver to fund continued company growth. With a 7 GW development portfolio and continued investment in new projects, Arevon is solidifying its role as a leader in powering an American energy future. For more information, visit arevonenergy.com.

SOURCE Arevon