Project Signal
Release March 11, 2026 Arevon Closes $920 Million in Financing for its 1,200 Megawatt-Hour Nighthawk Energy Storage Project in California The financing package includes a debt facility, preferred…
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Key metadata
- Signal ID
- 4220d5949445b641136e
- Signal type
- financing
- Source category
- developer
- Source
- Arevon
- Published at
- 2026-03-11T12:22:39Z
- Original source
- Arevon
Summary
Arevon Energy, Inc. announced on March 11, 2026, the successful closure of a $920 million financing package for its Nighthawk Energy Storage Project. This 300 megawatt (MW)/1,200 megawatt-hour (MWh) standalone battery storage facility is currently under construction in Poway, California. The financing includes a $482 million debt facility arranged by CIBC, ING Capital LLC, NORD/LB, Santander, and Zions Bancorporation, alongside a $169 million preferred equity investment structured with Goldman,…
Why it matters
This significant financing milestone provides the necessary capital for Arevon's largest standalone energy storage project to advance. Securing this funding often precedes further construction progress and eventual commissioning, indicating continued development in the California grid.
Source excerpt
The financing package includes a debt facility, preferred equity investment, and tax credit transfer commitment for Arevon’s largest standalone energy storage project and contributes to the company’s $5.1 billion in project financings closed in the last two years. SCOTTSDALE, Ariz. and POWAY, Calif. (March 11, 2026) — Arevon Energy, Inc. , a leading American energy developer, owner, and operator, today announced it has successfully closed a $920 million financing package for its 300 megawatt (MW)/1,200 megawatt-hour (MWh) Nighthawk Energy Storage Project, currently under construction in Poway, California . The financing package includes a $482 million debt facility arranged by CIBC as Left Lead Arranger, alongside ING Capital LLC, NORD/LB, Santander, and Zions Bancorporation; a $169 million preferred equity investment structured to simplify the monetization of tax credits with Goldman…
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