Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, hosted a groundbreaking event on August 21, to celebrate the start of construction on the company's 192 megawatt (MWdc) Ratts 1 Solar Project. Located near the city of Petersburg in Pike County, Indiana, the project will power the equivalent of approximately 24,000 Indiana homes when operational.
In addition to the Ratts 1 Solar Project, Arevon developed and recently started construction on the nearby 73 MWdc Heirloom Solar Project. Together, the two Pike County projects represent an investment of almost $400 million and will disburse more than $86 million to local governments over their lifespans while creating a more diversified income for the participating landowners. The projects will also employ approximately 200 full-time equivalent workers to build the facilities. Local businesses will benefit from the projects' construction and operations, which will bring an increase in spending at area stores, restaurants, and hotels.
Local leaders, landowners, partners and stakeholders, the project's construction contractor Primoris Renewable Energy, and the Arevon project team attended the groundbreaking ceremony. The following speakers addressed the community and economic benefits of bringing clean energy to Pike County: Dr. Suzanne Blake, Ratts 1 Solar Project participating landowner; Ashley Willis, MPA, EDFP, Executive Director at the Pike County Economic Development Corporation; Kyle Brouillette, Senior Vice President, Market Operations and Planning at Indiana Municipal Power Agency (IMPA); Tommy Greer, Chief Commercial Officer at Arevon; and Nikki Jeffers, Director of Development at Arevon.
"Ratts 1 Solar is a significant addition to Arevon's growing portfolio of Midwest projects and an important step forward for a cleaner future for Indiana," Greer said. "We are proud to host this groundbreaking and to celebrate the advancement of solar energy in Pike County."
"This project is an important part of our overall power supply portfolio. It is an Indiana resource and will aid IMPA in achieving our mission of bringing a low cost, reliable, and environmentally responsible power supply to our 61 member communities," Brouillette said.
"We are excited about the economic prosperity that Ratts 1 Solar will bring to our community," Willis said. "We have already seen the significant impact that this project has contributed through new jobs and increased local spending, and we look forward to seeing how it transforms Pike County over the next several decades."
"The conversion of some of our fields from growing traditional crops to also housing solar panels is an exciting opportunity for our community," Blake said.
Arevon is expanding its presence in the Midwest. In addition to Ratts 1 Solar and Heirloom Solar, the company recently issued announcements on a $352 million financing package to build the 228 MWdc Posey Solar Project in Indiana and also announced Posey Solar's start of construction in May. Arevon will be announcing the start of construction of an additional utility-scale project in Indiana in the coming weeks.
About Arevon
Arevon Energy, Inc. is a leading renewable energy company, supplying clean, reliable, and cost-effective energy to utilities and businesses, while powering the energy transition across the United States. Headquartered in Scottsdale, Arizona, and with a regional office in New York City, Arevon's more than 250 mission-driven employees use innovative approaches and leading-edge technology to develop, build, finance, own, and operate renewable energy projects. Arevon owns and operates more than 4,000 megawatts (MW) of utility-scale solar, storage, and solar + storage hybrid projects as well as distributed generation assets in 17 U.S. states. The company is currently constructing more than 2,000 MW of new capacity and has a robust development portfolio of more than 6 gigawatts. For more information, visit www.arevonenergy.com.
