Arevon Energy has secured $351 million financing to construct the 251 MW Gibson Solar Project in Gibson County, Indiana. The project, which has already begun construction, is expected to contribute more than $83 million in local government payments during its lifespan. Once completed, the Gibson Solar Project will provide enough clean energy to power over 30,000 homes annually.
The financing package includes a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit (LC) facility led by CoBank. CoBank served in multiple roles, including Coordinating Lead Arranger, Administrative Agent, Collateral Agent, and LC Issuing Bank. PNC Capital Markets LLC and Societe Generale also acted as Coordinating Lead Arrangers, while BNY served as Depositary Agent. Legal representation included Amis, Patel & Brewer for Arevon, Milbank LLP for Lenders, and Husch Blackwell as Local Counsel. Signal Energy is overseeing the engineering, procurement, and construction (EPC) work for the project.
