Arevon Energy Inc., a renewable energy company, was launched through the combination of Capital Dynamics’ US Clean Energy Infrastructure (CEI) team and Arevon Asset Management, the former wholly-owned asset management subsidiary energy from Capital Dynamics.
Arevon is 100% owned by a group of investors consisting of APG, the California State Teachers’ Retirement System (CalSTRS) and a 100% subsidiary of the Abu Dhabi Investment Authority (ADIA).
Arevon will support a 4.5 GW stand-alone clean energy platform of solar and battery storage projects in operation, under construction and in late-stage development, as well as a 3 GW pipeline.
The transaction is subject to regulatory approvals and is expected to close in early 2022.
The new company will offer custom clean energy solutions to utilities and enterprises and plans to expand its platform of solar and battery storage projects through customer acquisitions, mergers and acquisitions and certain development activities.
“The launch of this clean energy platform gives Arevon the flexibility to expand our capabilities and enter into new partnerships,” said John Breckenridge, CEO of Arevon and former head of clean energy infrastructure at Capital Dynamics. “As the renewable energy industry matures, it is essential that we bring both innovative off-take solutions and operational excellence to market. Our seasoned operating team, combined with our access to capital, positions us to achieve these goals and continue to grow the platform’s portfolio of clean energy assets in North America.
Arevon will continue to provide advisory and other production asset support services for Capital Dynamics, an independent global private asset management firm based in Switzerland. Ropes & Gray acted as legal advisor to the group of investors.