Arevon Energy Secures 2 GW Supply of American Solar Modules

To support its expanding portfolio of renewable energy sources, a US based renewable energy leader Arevon Energy has enterted into a contract with First Solar for supply of sophisticated Series 7 thin film photovoltaic (PV) solar modules totaling more than 2 GW DC. A little more than 700 MW DC of the total volume secured consists of purchase orders placed before First Solar’s Q2 2022 earnings report was made public in July of this year. These purchases will help projects being developed in the Midwest and Southwest regions and will increase Arevon’s 2 GW operating asset portfolio of First Solar modules.

According to Justin Johnson, Chief Operating Officer of Arevon, “Arevon is at the vanguard of fueling the energy shift through the development of our statewide solar pipeline. These orders reinforce Arevon’s competitive advantage while guaranteeing we can provide our customers with cutting-edge solutions.”

The demand for solar has significantly expanded across the country. According to a report for September 2022, the U.S. saw its biggest quarter-over-quarter gain with 10 GW of new utility-scale solar capacity contracts as a result of recent legislation. Arevon will be able to carry out projects that are slated for deployment in the following five years thanks to these orders for modules.

First Solar’s revolutionary thin-film PV modules are designed and developed at its R&D facilities in California and Ohio, and they are industry leaders in terms of performance in terms of design, quality, dependability, durability, and the environment.

Recently, To finance the development of a 6 gigawatt (GW) pipeline of solar and storage projects in the Midwest, Southeast, and California, Arevon Energy obtained a $400 million green loan fund credit facility from the Canadian Imperial Bank of Commerce (CIBC) and KeyBank N.A. 

Additionally, First Solar recently agreed with Swift Current Energy to supply Swift Current Energy with 2 gigawatts (GW)DC of high-performance, thin-film solar modules in 2025 and 2026.