Arevon Surpasses $10 Billion in Operating Assets, Expanding Its American Energy Portfolio

With 5.3 gigawatts of renewable energy operating, 1 gigawatt under construction, and an expanding 9 gigawatt pipeline, Arevon is scaling to meet historic U.S. electricity demand and strengthen America's energy security

LAS VEGAS and SCOTTSDALE, Ariz., Sept. 8, 2025 /PRNewswire/ -- Arevon Energy, Inc., a leading American energy developer, owner, and operator, today shared at RE+ 2025 its milestone achievements and ambitious growth ahead. The company owns and operates more than 5.3 gigawatts (GW) of solar, energy storage, and solar-plus-storage projects across 17 U.S. states, representing more than $10 billion in capital investment. With 1 GW of new capacity under construction and a 9 GW development portfolio as well as $4.5 billion in completed project financings over the last two years, Arevon is expanding into new markets and reinforcing its role in powering America's energy future. With every project, Arevon commits resources back into the host communities — strengthening schools, supporting essential services, and advancing the goals that matter most to local families.

Backed by a growing, mission-driven team, Arevon is advancing utility-scale renewable projects that deliver reliable homegrown energy, create local competitive-wage jobs, and generate lasting community benefits nationwide. The company's scale and performance have earned national recognition, ranking in the top 5% of solar companies in Solar Power World's 2025 Top Solar Contractors List. Arevon was also recognized as the top developer in California and the fourth largest solar developer nationwide.

"These milestones are a testament to the Arevon team, whose talent and commitment make these achievements possible," said Kevin Smith, Chief Executive Officer at Arevon. "Amid a record electricity demand surge in the U.S., our operating portfolio is reinforcing grid reliability, delivering dependable and affordable American power to millions across the country, and safeguarding national security as the U.S. leads in the global AI economy. Despite the challenging revisions to U.S. energy policy related to renewable energy, solar and energy storage will remain key to meeting future electricity demand requirements."

Arevon's Project Achievements and Advancements
Arevon's accomplishments are driven by its ability to bring renewable energy projects from development to financing through to construction and onto successful long-term operations. Over the course of the last year, Arevon has advanced more than 2,000 megawatts (MW) of projects into operations and started construction on 730 MW of new capacity.

Toward the end of 2024, Arevon began operations at its Vikings Solar-plus-Storage Project in Imperial County, California. The $529 million project, which is one of the first utility-scale solar peaker plants in the U.S., combines 157 MWdc of solar with 150 MW/600 megawatt hours (MWh) of battery storage, shifting low-cost daytime solar energy to higher-cost peak demand periods in late afternoons and evenings. Vikings's financial close was regarded as the nation's first utility-scale solar peaker plant to leverage tax credit transferability and was recognized by receiving IJGlobal's Renewables Deal of the Year – Energy Storage Award.

Also among Arevon's significant achievements was the August 2025 completion of its $2 billion Eland 1 & 2 Solar-plus-Storage Project in Kern County, California. Now fully operational, Eland delivers 758 MWdc of solar generation paired with 300 MW/1,200 MWh of energy storage, making it one of the largest installations of its kind in the nation. The project is capable of powering more than 266,000 homes annually, meeting 7% of Los Angeles's electricity needs, while its hybrid design enables day-to-night renewable delivery and bolsters grid reliability.

In Missouri, Arevon commenced construction on its Kelso 1 & 2 Solar Project, a $500 million private investment that will boost the state's installed solar capacity by almost 50 percent when operational. This two-phase project marks Arevon's first utility-scale solar development in Missouri and features an innovative Environmental Attribute Purchase Agreement with Meta, ensuring traceable renewable energy attribution. Kelso not only adds substantial American-made energy to the region but also channels targeted local investments into schools, infrastructure, and community services.

Additionally, the company announced commercial operations at its $300 million Peregrine Energy Storage Project in San Diego, a 200 MW/400 MWh standalone battery system designed to strengthen California's grid resilience and facilitate greater integration of renewable generation. Peregrine represents Arevon's fifth completed utility-scale energy storage facility in California and bolsters the company's position as a leader in battery storage development and operations.

Arevon also continues to advance construction on its almost $400 million Ratts 1 & Heirloom Solar Projects in Indiana, a combined 265 MW of capacity which are expected to be operational this year, and anticipates starting construction on its 124 MW Big Muddy Solar Project in Illinois before year-end. The company also partnered with local utilities to develop and build an additional 480 megawatts of solar energy in Indiana with the Gibson Solar and Posey Solar projects, ensuring each project was successfully integrated into their communities.

Arevon's $600 million Nighthawk Energy Storage Project, a 300 MW/1,200 MWh facility in Poway, California, is also under construction, and when operational, will be able to power up to 385,000 homes during the peak electricity demand periods for four hours each day. The project will feature modern lithium iron phosphate batteries which are the safest technology on the market today. Arevon's number one priority is the safety of those who live and work in its project areas, and the company is proud to have safely operated its energy storage facilities in U.S. communities since 2021.

Together, these projects illustrate Arevon's ability to execute at scale and deliver tangible results that propel the advancement of affordable and reliable energy in America.

Arevon Drives Growth Through Innovative Financing
Since mid-September 2024, Arevon has secured more than $1.6 billion in financing for flagship solar and energy storage projects, which contributes to the company's industry leading $4.5 billion in total project financings secured over the last two years. Within the last 12 months, Arevon's notable executed transactions include $509 million for its Kelso Solar Project, $351 million for the Gibson Solar Project, $258 million for its Peregrine Energy Storage Project, and $98 million for its Ratts 1 & Heirloom Solar Projects. These investments are bringing more than a thousand megawatts of new renewable energy capacity to the grid, supporting local economies through job creation, tax revenue, and infrastructure improvements.

Moreover, Arevon also secured a $600 million credit facility, with the option to increase up to $850 million, that will enable the company to further expand its development portfolio of solar and energy storage assets and enhance the performance of its high-yielding operational assets.

The scope and diversity of these deals reflect Arevon's ability to structure innovative financing that strengthens project economics and enables additional development. Backed by strong relationships with capital partners, these financings are not only advancing the development, construction, and operations of Arevon's projects but also ensuring that host communities realize meaningful, long-term benefits derived from renewable energy generation.

Arevon Recognition
In the past year, Arevon has earned national and global recognition for the way it powers communities, leads with integrity, and invests in its people. These honors reflect not only the company's industry leadership, but also its commitment to building a workplace culture where innovation and inclusion thrive:

• Excellence in environmental, social, and governance (ESG) performance: Arevon ranked No. 1 in North America and No. 2 worldwide in the Infrastructure/Renewable Energy/Private category of the GRESB ESG Benchmark Assessment, underscoring its leadership in sustainable investing and responsible governance.
• Advancing diversity, equity, inclusion, and justice: Arevon achieved Silver Certification from the Solar Energy Industries Association's (SEIA) DEIJ Program, an evidence-based initiative that celebrates meaningful progress toward building a more diverse, inclusive workplace, one of the company's greatest strengths — fueling growth and innovative decision-making.
• Award-winning workplace culture: Arevon received a suite of honors from Energage and USA TODAY's Top Workplaces awards, including Top Workplaces in Energy & Utilities, Arizona Top Workplaces, USA TODAY Top Workplaces, and Top Workplaces for Innovation. The company also earned Culture Excellence Awards in Work-Life Flexibility, Compensation & Benefits, and Leadership, recognizing a people-first culture that values balance, rewards performance, and empowers employees to lead.

Navigating Policy Changes
While the renewable energy industry continues to face policy uncertainty and shifting regulatory landscapes, Arevon remains confident in the fundamentals driving long-term growth. Rising demand and proven cost competitiveness position solar and energy storage to continue its growth under the new federal policy directives.

"The U.S. is entering a demand-driven era, and solar and battery storage are well-positioned to dominate new capacity growth — with or without subsidies," said Smith. "These technologies deliver decades of price stability, protecting American families and businesses from fuel price volatility while giving the nation a decisive edge in leading the global AI race."

What's Next for Arevon
With a strong operating portfolio, an expanding 9 GW development pipeline, and continued investment in new projects, Arevon has solidified its role as a leader in powering an American energy future. The company's focus remains on delivering safe, high-performance projects that meet the rising demand for homegrown, reliable, and affordable energy.

"We're entering the next phase of growth through the expansion of our development pipeline and M&A activities," added Shanelle Montana, Chief Development Officer at Arevon. "Across every stage — from development and financing to construction and operations — we are advancing ambitious energy goals while bolstering domestic manufacturing, increasing grid stability, and creating lasting community partnerships which drive economic development."

Arevon anticipates announcing more news pertaining to commercial, financial, construction, operation, sustainability, and other project-related milestones throughout the remainder of the year.

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 5.3 gigawatts (GW) of solar and energy storage projects across 17 states, representing more than $10 billion in capital investment, and is currently constructing an additional 1 GW of new capacity. The company also partnered with local utilities to develop and build 480 megawatts of solar energy, ensuring each project was successfully integrated into their communities. Within the last two years, Arevon has completed $4.5 billion in project financings and closed on a $600 million corporate revolver to fund continued company growth. With a 9 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