Arevon Energy Inc. has closed financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer.
Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, among the nation’s first transactions announced to date that leverage the Inflation Reduction Act’s transferability provision.
The additional $338 million debt facility was financed with MUFG, BNP Paribas, Sumitomo Mitsui Banking Corp., and First Citizens Bank, who acted as coordinating lead arrangers. National Bank of Canada also participated as a lender. Stoel Rives represented Arevon as legal counsel; Milbank LLP served as transfer counsel; and Winston & Strawn LLP served as lender counsel.
“Vikings has been a landmark project from its inception. It is one of the nation’s first solar peaker plants, and today it is one of the first utility-scale solar-plus-storage ITC and PTC transferability transactions to close since the Inflation Reduction Act passed in August 2022,” says Kevin Smith, Arevon’s CEO.
Located in Imperial County, Calif., the Vikings power plant features a unique configuration of 157 MW DC of solar coupled with 150 MW/600 MWh of battery energy storage. Vikings is contracted to provide resource adequacy and renewable energy to San Diego Community Power, helping to support grid reliability beginning next year.
The project showcases key U.S. manufacturers, with PV module supply from Arizona-based First Solar, along with solar trackers from Nextracker, whose headquarters are in Fremont, Calif. Tesla is supplying the facility’s utility-scale batteries, which allow the solar energy generated to be directed to the grid during peak demand.
Construction of the facility is well underway, with commercial operations scheduled for the third quarter of 2024. San Diego-headquartered SOLV Energy is performing the construction activities.
The post Vikings Solar-Plus-Storage Development Nets Financing appeared first on Solar Industry.
The guy who sent me this writes, “A Loss for the (Climate) Alarmists!”
A loss for climate alarmists? LOL. It’s a loss for all humanity.
But let’s be real. This is the only thing in which Trump succeeds: ruining good things for his own enrichment.
And that can mean a great numbers of things: the Kennedy Center, the city of Minneapolis, our scientific institutions, our greatest universities, our rejection of cruelty, our opposition to dictators, the future of Greenland, the lives of immigrants who have been living, working, and paying taxes here for decades, public education, protection from formerly wiped-out diseases, and America’s relationship with its allies — for starters.
It’s the only thing we do well as a nation now: destroying the best things that the U.S. has developed throughout the centuries, so that Trump can maintain power.
A Loss for Environmentalists, Yes — But More Importantly, for Humanity as a Whole
The reader who sent me this writes:
Don’t worry conservatives outnumber commie libtards 20 to 1 and we support ice.
You seem to be comparing ordinary crime with routine extra-judicial killings by the U.S. government, and you appear to reject the idea of prosecuting coldblooded murderers if they’re employed by the Trump administration.
Btw, it’s not just “liberals” who want rule of law returned to the United States; it’s everyone but the most morally depraved.
Sorry. Not impressed with your thinking here.
Murders Committed by ICE Agents Are Acceptable, According to What We See Here
Sure! Shouldn’t the U.S president, a convicted felon, be allowed to deport an innocent congressperson because she doesn’t support him? Isn’t this the American way?
If this were happening in Russia, Putin would have her tortured and executed. Why can’t Trump do the same?
Cropped 11 February 2026: Aftershocks of US withdrawals | Biodiversity and business risks | Deep-sea mining tensions
Cropped 11 February 2026: Aftershocks of US withdrawals | Biodiversity and business risks | Deep-sea mining tensions
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