Arevon Energy wanted to pioneer stand-alone energy storage systems with a 2GWh portfolio and turned to Southport Partners professionals for help.
Increasing volatility in energy markets is creating a huge need for energy storage assets and Arevon Energy wanted to deploy new battery energy storage technology at a scale that had never been done before. Southport Partners professionals worked with Arevon throughout the process including the negotiation of key contracts, structuring and sourcing a multi-tired $1.2bn financing package and overseeing the funding and re-financing process from development and construction through to the successful start of operations.
The financing package included a land-lease monetization with a publicly traded investment firm and debt financing from a consortium of leading infrastructure banks consisting of a construction converting to term tranche and a tax financing bridge tranche. The tax financing led the market with a precedent-setting hybrid structure involving an equity investor partnership with a leading private equity firm and the transfer sale of Investment Tax Credits to a Fortune 500 corporate buyer.