Arevon Energy has secured $1.1 billion in aggregate financing commitments for its Eland 2 solar-plus-storage project in Kern County, Calif.
The 374 MW solar project coupled with 150 MW off energy storage is under early-stage construction and is anticipated to come online early next year.
“Solar-plus-storage projects, like our flagship Eland 1 and 2 facilities, play an important role in Arevon’s strategy” says Kevin Smith, CEO at Arevon. “Hybrid power plants deliver a more reliable, predictable energy yield during peak electricity demand periods, which in turn enables consistent returns across our diverse, multi-gigawatt portfolio. The Eland projects highlight our team’s financial strength, industry expertise, and thoughtful approach to fostering a sustainable energy infrastructure. We will continue to build upon this momentum, as leaders in powering the energy transition.”
Under a long-term PPA with Southern California Public Power Authority, Eland 2 will provide 200 MW of electricity to serve Southern California’s power needs. The project utilizes Tesla’s Megapack 2 XL battery system. San Diego-based SOLV Energy is the project’s EPC contractor.
Wells Fargo provided a $431 million tax equity commitment. Arevon obtained $654 million of debt financing including a construction-to-term loan, a tax equity bridge loan and letter of credit facilities. Canadian Imperial Bank of Commerce served as the administrative agent, coordinating lead arranger, green loan coordinator and bookrunner. Other coordinating lead arrangers included BNP Paribas, CoBank, Commerzbank AG, Commonwealth Bank of Australia and National Bank of Canada.
J.P. Morgan served as joint lead arranger, collateral and depositary agent. Amis, Patel & Brewer represented Arevon as sponsor counsel; Milbank served as lender counsel. Sheppard Mullin served as tax equity counsel.
The post Arevon Closes on $1.1B in Financing for Eland 2 Solar-plus-Storage Project appeared first on Solar Industry.
Arevon Closes on $1.1B in Financing for Eland 2 Solar-plus-Storage Project
Obviously, this isn’t a real human being, though there are tens of millions with this perspective, so let’s treat him as if he were an actual guy.
No one’s going to hate you, because everyone with a brain supports border control and law enforcement.
You are, however, running the risk of being regarded as a moron. There are hundreds of points of domestic and international law, reason, and humanity that are being addressed every day along these lines.
Why don’t you go on keepin’ those doggies moving, and let the rest of us do our best to figure out how to treat immigrants legally and humanely?
The guy who sent me this writes Could not be any clearer than that.
We’ve all heard the adage, “If guns are outlawed, only outlaws will have guns.”
It has a nice ring to it, but it really doesn’t hold water in the real world, where counties with strict gun laws, e.g., Japan, England, and Australia have very low rates of violent crime.
Note: these countries don’t have an NRA, a fabulously wealthy lobbying organization that controls their lawmaking apparatus.
Moreover, outside the United States, it’s very hard to find a place where a potentially mentally unstable person can go into a store and walk out with a weapon of war, capable of killing 50+ people each minute.
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