Arevon

What Arevon does

Arevon Energy, Inc. is a privately held U.S. independent power producer that develops, finances, builds, owns, and operates utility-scale solar, energy storage, solar-plus-storage, and distributed generation projects. Founded in 2017 by Justin Johnson (now CEO) and headquartered in Scottsdale, Arizona, the company has scaled from a three-person startup to over 300 professionals managing 6+ GW of operating capacity across 18 U.S. states. Its portfolio spans standalone battery storage (Nighthawk at 300 MW / 1,200 MWh in Poway, California; Cormorant at 250 MW / 1,000 MWh in Daly City, California; Peregrine at 200 MW), utility-scale solar (Kelso at 430 MW in Missouri; Big Muddy at 124 MW in Illinois; Ratts 1 / Heirloom at 264 MWdc in Indiana; Eagle Shadow Mountain at 300 MWac in Nevada; Gibson at 200 MWac in Indiana), and hybrid solar-plus-storage assets (Vikings, California Flats, Townsite).

The company deploys Lithium Iron Phosphate (LFP) battery chemistry for storage systems — chosen for its safety record with no fire incidents reported across North American utility-scale deployments — and uses First Solar thin-film modules paired with single-axis trackers for its solar fleet. Tesla Megapack 2XL technology underpins several of its largest BESS installations. Arevon leverages sophisticated IRA-era financing structures, including uncommitted tax equity and tax credit transfer bridge takeouts, and has closed $5.1+ billion in project financing over the past two years, earning the 2025 Proximo North America Solar Deal of the Year award.

Arevon's commercial model is built on long-dated, contracted cash flows. It sells electricity, environmental attributes, and resource adequacy capacity primarily through Power Purchase Agreements (PPAs) with terms of 10–25 years, alongside resource adequacy capacity contracts (PG&E, MCE) and build-transfer arrangements (NIPSCO). Counterparties are investment-grade utilities (PG&E, NV Energy, NIPSCO, MCE, San Diego Community Power) and corporate energy buyers (notably Meta). The company is ranked #1 in California and top 5% nationally by Solar Power World 2025, and #1 in the Americas by GRESB ESG Benchmark for solar power generation. Pricing is bespoke and not publicly disclosed, with each project structured to the specific needs of the utility or corporate off-taker.

Name

Arevon

Legal name

Arevon Energy, Inc.

Website

https://arevonenergy.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Arevon Energy is a privately held U.S. independent power producer that develops, finances, builds, owns, and operates utility-scale solar, energy storage, solar-plus-storage, and distributed generation projects, serving investment-grade utilities and corporate energy buyers through long-term PPAs and capacity contracts across 18 U.S. states.

Ownership category

akta.pro rank

Product category

Utility-Scale Renewable Energy Development

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD), Energy & Renewables Specialty Contracting (Solar PV, Storage, EV Charging) (IMAFALAJ), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)

Keywords

• Utility-scale solar development
• Battery energy storage
• Solar-plus-storage projects
• Renewable power purchase agreements
• Distributed generation assets

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Others

Revenue model

1. Power Purchase Agreements (PPAs): Long-term power purchase agreements with utilities and corporate buyers for electricity and environmental attributes from solar and storage projects. Revenue is recurring over contract terms typically spanning 10-25 years.
2. Resource Adequacy Capacity Contracts: Capacity agreements with utilities (e.g., PG&E, MCE) providing resource adequacy capacity payments for grid reliability services from battery storage assets.
3. Build-Transfer Agreements: Build-transfer arrangements where customers like NIPSCO acquire completed solar projects from Arevon.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Arevon develops, finances, builds, owns, and operates utility-scale solar, standalone battery energy storage, co-located solar-plus-storage projects, and distributed generation assets across the United States. The company sells the electricity, capacity, and environmental attributes produced by these assets to utilities, community choice aggregators, and corporate buyers under long-term power purchase agreements, resource adequacy contracts, build-transfer arrangements, and environmental attributes purchase agreements.

Product overview

Arevon is a U.S. renewable energy company that develops, builds, finances, owns, and operates utility-scale solar, energy storage, solar-plus-storage projects, and distributed generation assets. The company operates a diversified portfolio spanning standalone energy storage projects (including Nighthawk at 300 MW/1,200 MWh, Cormorant at 250 MW/1,000 MWh, and Peregrine at 200 MW), solar projects (including Kelso at 430 MW, Big Muddy at 124 MW, Ratts 1/Heirloom totaling 264 MWdc, Eagle Shadow Mountain at 300 MWac, and Gibson at 200 MWac), hybrid solar-plus-storage projects (Vikings, California Flats, and Townsite), and distributed generation assets. The company leverages Lithium Iron Phosphate (LFP) battery technology for its energy storage systems and focuses on serving utilities and corporations through long-term power purchase and resource adequacy agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Power Arevon's utility-scale solar projects deliver renewable electricity and environmental attributes under long-term PPAs, build-transfer agreements, and environmental attributes purchase agreements with utilities, community choice aggregators, and corporate buyers such as PG&E, NV Energy, NIPSCO, MCE, San Diego Community Power, and Meta.
• Utility-Scale Battery Energy Storage Arevon develops, owns, and operates standalone utility-scale battery energy storage systems using Lithium Iron Phosphate (LFP) technology, including Tesla Megapack 2XL installations such as the Nighthawk (300 MW/1,200 MWh), Cormorant (250 MW/1,000 MWh), Peregrine (200 MW), and Condor projects, providing resource adequacy capacity, grid reliability, and ancillary services to utilities such as PG&E and MCE.
• Solar-plus-Storage Hybrid Projects Arevon develops and operates co-located solar-plus-storage projects that pair solar generation with battery energy storage in a single project footprint to deliver resource adequacy, peak demand support, and renewable energy to utilities and community choice aggregators including San Diego Community Power.
• Distributed Generation Assets Arevon operates distributed generation solar and solar-plus-storage assets located throughout the United States, enabling businesses and communities to procure electricity from renewable energy sources at or near the point of use.

Quantifiable outcome

• 6+ GW owned and operated across 18 U.S. states
• +5 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and major.

• Primoris Services CorporationcoreImplementation/ SI/ Consulting Partner · 29 March 2026$600 million EPC contract awarded to Primoris for construction of Cormorant Energy Storage Project (250 MW/1,000 MWh) in California.
• TeslacoreTechnology or Integration · 11 March 2026Battery supplier for Nighthawk and Cormorant Energy Storage Projects using Tesla Megapack 2XL technology. Key technology partner for large-scale BESS deployments.
• Pacific Gas & Electric Company (PG&E)coreStrategic or Co-development PartnerLong-term resource adequacy capacity agreement for Nighthawk Energy Storage Project. Major utility customer for grid reliability services.
• MCE (Monterey Bay Community Power)coreStrategic or Co-development PartnerLong-term offtake agreement for 188 MW of Cormorant Energy Storage Project (250 MW total). Community choice aggregator serving 1.8 million people.
• MetacoreStrategic or Co-development PartnerLong-term Environmental Attributes Purchase Agreements for Kelso Solar Project (349 MWac) helping Meta achieve 100% renewable energy goal.
• San Diego Community PowermajorStrategic or Co-development PartnerLong-term commercial contract for Vikings Solar-plus-Storage Project (137 MWac solar + 150 MW storage) for resource adequacy and grid reliability.
• NIPSCO (Northern Indiana Public Service Company)majorStrategic or Co-development PartnerBuild-transfer agreement for Gibson Solar Project (200 MWac) - NIPSCO will own and operate upon completion.
• NV EnergymajorStrategic or Co-development PartnerLong-term PPA for Eagle Shadow Mountain Solar Project (300 MWac) located on Moapa River Indian Reservation, supporting Nevada renewable portfolio standards.
• Banpu PowermajorStrategic or Co-development PartnerStrategic collaboration on battery energy storage projects totaling 1,550 MWh across California and Texas with combined investments exceeding $690 million.
• Energy VaultmajorStrategic or Co-development PartnerCollaborative BESS project development alongside Arevon and Banpu Power in U.S. battery storage market.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Invenergy: Invenergy is a closely comparable U.S. independent power producer developing, owning, and operating utility-scale solar, wind, and battery storage projects with long-term PPAs to utilities and corporates—directly mirroring Arevon's business model, scale tier, and offtake profile.
• Clearway Energy: Clearway Energy owns and operates one of the largest renewable energy portfolios in the U.S., with a heavy weighting toward utility-scale solar and battery storage contracted under long-term PPAs—directly comparable to Arevon's IPP/owner-operator model.
• AES Clean Energy: AES Clean Energy develops, builds, and operates utility-scale solar, wind, and battery storage projects across the U.S., with a focus on PPAs with utilities and hyperscalers—an overlapping customer base and product mix with Arevon.
• Lightsource bp: Lightsource bp is a global utility-scale solar developer and operator with significant U.S. utility-scale solar and storage projects, sharing Arevon's long-term PPA business model and corporate offtake focus (including former Chief Development Officer Shanelle Montana's prior leadership role).
• Hecate Energy: Hecate Energy is a U.S.-focused utility-scale solar and storage developer with a similar profile of long-term utility and corporate PPAs—comparable in scale tier and customer types to Arevon, including extensive storage development.
• Strata Clean Energy: Strata Clean Energy develops, builds, and operates utility-scale solar and battery storage projects in the U.S. under long-term PPAs—a similar independent developer/IPP model to Arevon with overlapping state presence and customer types.
• Pine Gate Renewables: Pine Gate Renewables is a U.S. utility-scale solar and storage developer and IPP with a heavy focus on long-term offtake agreements, sharing Arevon's business model, financing structure, and customer mix.

Broad incumbents

• EDP Renewables: EDP Renewables is a global top-tier utility-scale renewable developer with a significant North American solar and storage portfolio, sharing Arevon's customer base and offtake structures, but with broader geographic footprint and a much larger balance sheet.
• NextEra Energy Resources: NextEra Energy Resources is the world's largest generator of renewable energy from wind and solar and a leading battery storage developer/operator—a much larger incumbent competing for the same utility RFPs and corporate PPAs as Arevon.
• EDF Renewables: EDF Renewables is a global utility-scale wind, solar, and storage developer with a substantial U.S. footprint, sharing Arevon's customer base and offtake structures but operating at significantly larger scale and broader geographic scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/arevonenergy
• YouTubeyoutube.com/@arevonenergy
• LinkedInlinkedin.com/company/arevon

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds12 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arevon