Arevon Secures $120 Million Tax Equity Commitment from Wells Fargo for Illinois Solar Project
Arevon Energy has closed a $120 million tax equity commitment with Wells Fargo Bank, N.A. to finance its 124 MWdc Big Muddy Solar Project located in Jackson County, Illinois. This financing allows Arevon to monetize project tax attributes, including investment tax credits and depreciation, following an earlier $183 million debt package announced in February 2026. The solar facility began construction in 2025 and is expected to reach commercial operations by the end of 2026. Once operational, the project is projected to power over 24,000 Illinois homes annually and contribute approximately $12.6 million in property tax payments to local community initiatives. This transaction marks a significant milestone for Arevon, bringing its total project financings over recent years to more than $5.2 billion. The deal reinforces the strategic partnership between Arevon and Wells Fargo as both companies expand their footprint in renewable energy development across the Midwest.
Tickers: $WFC
Topics: Financing Renewable Energy Solar Project Tax Equity Commitment