Arevon secures US$509 million in finance for 430MW Missouri solar portfolio

March 11, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The Kelso Solar project in the US.
The Kelso portfolio will be Arevon’s first projects in Missouri. Image: Kelso Solar.

US independent power producer (IPP) Arevon Energy has secured US$509 million in financing for its Kelso 1 and 2 PV projects in Missouri, which have a combined capacity of 430MW.

The projects are the company’s first in Missouri, which it expects to commission by the end of this year and operate for 35 years. The financing consists of a US$245 million bridge loan, a US$172 million construction loan and US$92 million in credit support. The Canadian Imperial Bank of Commerce was the administrative agent for the deal, and lenders include the Commonwealth Bank of Australia and the National Bank of Canada.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Kelso Solar’s financing is a testament to the close collaboration among all of our financing counterparties, for whom I am grateful for their confidence and trust in Arevon to deliver on our first-class projects,” said Denise Tait, Arevon chief investment officer. “I am excited to continue to work together to build a better future through homegrown, responsible energy.”

With the close of this deal, Arevon has now completed eight project financings in the last 18 months, raising more than US$3.7 billion for its work, including a US$251 million package to support its work in Indiana. The company plans to invest more than US$1.1 billion into four Indiana projects, as it looks to expand its presence in the US Midwest.

While not a historically dominant part of the US solar sector, the Midwest has seen a flurry of activity this year, with new legislation in place to support community solar in Iowa and Missouri and EDF Renewables’ commissioning of a 200MW project in Missouri.

According to figures published today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, Ohio and Mississippi have seen some of the fastest growth in new solar capacity additions, ranking 5th and 14th in the US, respectively, in terms of new capacity added in 2024.

Read Next

October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.
October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
October 22, 2025
Leeward Renewable Energy has started commercial operations at its 177MW Ridgely solar project in the US state of Tennessee.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal