Arevon Energy, Inc., a US-based energy developer, owner and operator, has signed three 20-year Indexed Renewable Energy Credit (REC) agreements with Ameren Illinois Company, Commonwealth Edison Company (ComEd) and MidAmerican Energy Company. The contracts cover the company’s 200 MWac/275 MWdc Panther Energy Project in Perry County, Illinois.
The Panther Energy Project is anticipated to begin construction in 2027 and reach completion in 2028, creating an estimated 200 construction jobs. The project is expected to contribute an estimated $20 million in property tax payments over its operating life, benefiting area schools, infrastructure, and other public services while driving additional economic activity.
Arevon has established a local office in Pinckneyville, providing landowners, residents, and other community members with direct access to the Panther project team during development and upcoming construction. Once operational, the project is expected to generate enough electricity to power more than 37,000 Illinois homes.
The long-term commercial agreements follow Panther Energy’s selection in the Illinois Power Agency’s (IPA) Summer 2026 Indexed REC procurement, which was approved by the Illinois Commerce Commission (ICC). Under the IPA’s procurement methodology, Panther Energy was selected to deliver 421,131 RECs in the first year, which will be allocated among Ameren Illinois, ComEd, and MidAmerican through separate long-term contracts with each utility.
The Indexed REC structure provides long-term revenue certainty that supports the development and financing of new renewable energy projects. The RECs acquired by the utilities will help meet their obligations under the Illinois Renewable Portfolio Standard.
The Summer 2026 procurement was conducted pursuant to Illinois’s Climate and Equitable Jobs Act (CEJA), which became law in 2021 and established the Indexed REC pricing structure for utility-scale renewable energy procurements. In total, the ICC approved contracts for 1.55 gigawatts of new renewable energy capacity, including four utility-scale solar projects totaling 740 MWac, through the Summer 2026 procurement.
“Arevon is proud to work with Ameren Illinois, ComEd, and MidAmerican through the IPA procurement to move Panther Energy closer to construction and contribute to Illinois’s energy goals,” said Tommy Greer, Chief Commercial Officer at Arevon. “We appreciate the collaboration of Perry County residents, landowners, and local officials throughout the project’s development. We look forward to delivering reliable, homegrown energy to the grid while creating jobs, generating long-term economic benefits, and investing in the local community.”
Arevon is actively growing its portfolio in the Midwest region of the United States through the operations, construction, and continued development of energy facilities. Recent milestones in the Midwest include the start of operations at its 430 MWdc Kelso Solar Project in Missouri and Ratts 1 and Heirloom Solar Projects in Indiana, which have a cumulative capacity of 264 MWdc. Ratts 1 and Heirloom were awarded the 2025 Proximo North America Solar Deal of the Year.
The company has also nearly completed construction on its 124 MWdc Big Muddy Solar Project in Jackson County, Illinois. In addition, Arevon developed and managed construction of the 251 MWdc Gibson Solar Project and the 228 MWdc Posey Solar Project in Indiana on behalf of local utilities.
Arevon is a U.S. energy leader committed to powering America with affordable, reliable, and secure homegrown energy. Headquartered in Scottsdale, Arizona, and with a regional office in New York City, the company’s experienced and dedicated team develops, finances, builds, owns, and operates renewable energy projects nationwide.
With a strong track record in utility-scale solar and energy storage, Arevon is a trusted partner to utilities and businesses seeking cost-effective, sustainable energy solutions. By prioritizing American manufacturing and domestic energy production, the company invests in U.S. jobs, strengthens local economies, and advances the country’s energy independence.
Arevon owns and operates more than 6.3 gigawatts of solar and energy storage projects across 18 states, is currently constructing 370 megawatts (MW) of new capacity, and maintains a robust development portfolio.
The company has also partnered with local utilities to develop and build 480 MW of solar energy, ensuring each project was successfully integrated into their communities. Together, this scale, execution, and ongoing development activity position Arevon at the forefront of American energy innovation.
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