Arevon Energy, a renewable energy developer, owner, and operator, has secured $1.1 billion in aggregate financing commitments for its Eland 2 Solar-plus-Storage project in Kern County, California. The project, set to come online in Q1 2025, will provide 200 MW of electricity under a power purchase agreement with Southern California Public Power Authority and will dispatch electricity from Tesla Megapack 2 XL batteries for up to four hour durations during peak grid demand. Wells Fargo provided $431 million in tax equity commitment and $654 million in debt financing. The company also secured $350 million from Blackstone Credit and Insurance to support a 200 MW battery project in Grand Terrace, California, which is set to reach commercial operations in Q2 2024.

Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating







