Arevon Asset Management and Capital Dynamics create new solar development company
Arevon Energy, a renewable energy company, was launched today through the combination of Capital Dynamics’ US Clean Energy Infrastructure team and Arevon Asset Management, Capital Dynamics’ former exclusive energy management partner. Arevon is 100% owned by an investor group comprising APG, the California State Teachers’ Retirement System and a wholly owned subsidiary of the Abu Dhabi Investment Authority.
Arevon is supporting a self-contained 4.5 GW clean energy platform of operational, under construction and advanced solar and battery storage development projects, as well as a 3 GW pipeline. The transaction is subject to regulatory approvals and is expected to close in early 2022.
With significant industry experience among its more than 100 professionals, Arevon will offer tailored clean energy solutions to utilities and businesses and plans to expand its platform of solar and battery storage projects through customer acquisitions, mergers and acquisitions and selected development activities.
“The launch of this clean energy platform gives Arevon the flexibility to expand our capabilities and forge new partnerships,” said John Breckenridge, Arevon’s CEO and former head of clean energy infrastructure at Capital Dynamics. “As the renewable energy industry matures, it is essential that we bring both innovative offtake solutions and operational excellence to the market. Our experienced operations team, combined with our access to capital, positions us to achieve those goals and extend the platform’s portfolio of clean energy assets. North America.”
Arevon will continue to provide advisory and support services to next-generation assets for Capital Dynamics, an independent global private equity management firm based in Switzerland. Ropes & Gray acted as legal advisor to the Investor Group.
News item from Arevon Energy