Arevon Energy confirmed a $120 million tax‑equity commitment from Wells Fargo Bank for its 124‑MWdc Big Muddy Solar project in Jackson County, Illinois, marking a new financing step as construction heads toward a planned year‑end 2026 commercial start.

The tax‑equity deal follows a $183 million debt package announced in February, together accounting for $303 million in disclosed financing commitments for the project.

Arevon has previously described the overall investment in Big Muddy Solar as nearly $198 million, a figure that does not directly align with the combined financing announcements, leaving the exact capital structure unclear.

The new tax‑equity commitment enables Arevon to monetize project tax attributes such as depreciation and investment tax credits, a common mechanism in U.S. renewable‑energy finance.

Details of how the $120 million tax‑equity infusion interacts with the earlier debt package – whether it replaces interim financing or adds new capital – have not been disclosed by the company.

Construction began in 2025, employing more than 250 workers, and Arevon projects the facility will generate enough electricity to power over 24,000 Illinois homes annually once it reaches commercial operation by the end of 2026.

The project includes a long‑term virtual power purchase agreement with an unnamed American multinational technology company, though the agreement’s terms and pricing remain undisclosed.

Arevon expects the solar farm to contribute more than $12.6 million in property‑tax payments over its operating life, supporting local public services, though these figures are projections rather than measured results.