Arevon Energy secures $351 million financing for Gibson Solar Project in Indiana

Arevon Energy has secured $351 million in financing to construct the 251 MW Gibson Solar Project in Gibson County, Indiana. The project, already under construction, is expected to generate over $83 million in local government payments throughout its lifespan and will provide enough clean energy to power more than 30,000 homes annually.

The financing package includes a construction loan and a letter of credit (LC) facility led by CoBank, Societe Generale, and PNC Bank. CoBank took on multiple roles, including Coordinating Lead Arranger, Administrative Agent, Collateral Agent, and LC Issuing Bank. Signal Energy is responsible for the project’s engineering, procurement, and construction (EPC). Legal counsel included Amis, Patel & Brewer for Arevon, Milbank LLP for the lenders, and Husch Blackwell as Local Counsel.