US developer secures $1.1 billion for California solar-storage project

Arevon Energy secured the funds for a 374 MW solar project with 150 MW / 600 MWh of co-located energy storage. From pv magazine USA Arevon Energy, a renewable energy developer, has secured $1. 1 billion in aggregate financing commitments to support the development of its Eland 2 solar-plus-storage project in Kern County, California. Eland 2 is a 374 MW solar, 150 MW/600 MWh storage project. The project is set to come online in the first quarter of 2025. Wells Fargo provided $431 million in tax equity commitment. Arevon Energy also obtained $654 million of debt financing, including a construction-to-term ...

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