Project Finance Brief: Arevon Secures $98 Million for 265 MW Solar Projects

Arena Renewables sells 40 MW Illinois solar portfolio

June 4, 2025

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Arevon Energy, a renewable energy developer, owner, and operator, secured a $98 million tax equity commitment from Fifth Third Bank to develop 265 MW of solar projects in the U.S. The 192 MW Ratts and the 73 MW Heirloom solar projects are currently under construction and are expected to be fully operational later this year. These projects will add 265 MW of new domestic energy to Pike County, Indiana, and will expand Arevon’s portfolio in the Midwest/Midcontinent Independent System Operator territories.

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