Major US renewables investor Capital Dynamics has spun off its US clean energy infrastructure arm and merged it with its former asset management affiliate to create Arevon Energy, a new multi-gigawatt solar and energy storage platform.
Arevon is backed by investors including the California State Teachers’ Retirement System (CalSTRS), an investor group comprised of APG and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
The company has launched with a portfolio comprising 4.5GW of operating, under construction and late-stage development solar and battery storage projects, as well as a 3GW pipeline.
Arevon said it was to leverage “significant industry experience” from its staff and new leadership team – which includes ex-Capital Dynamics, sPower and AES executives – to deliver customised clean energy solutions to utilities and corporations in the US. Furthermore the company said it intended to expand upon its platform through customer acquisition activities, M&A and new developments.
John Breckenridge, CEO at Arevon and former head of clean energy infrastructure at Capital Dynamics, said: “Launching this clean energy platform gives Arevon the flexibility to expand our capabilities and engage in new partnerships.
“As the renewables industry matures, it is essential we bring both innovative offtake solutions and operational excellence to the market.”
More on this story, including exclusive insight from Arevon CEO John Breckenridge, is to be published on PV Tech tomorrow.