CIBC Secures $509 Million Financing for Missouri Solar Project
Deal News | Mar 18, 2025 | Bryan Cave Leighton Paisner LLP
Bryan Cave Leighton Paisner LLP (BCLP) has acted as local counsel for Canadian Imperial Bank of Commerce (CIBC) in the financing of a significant solar facility project in Scott County, Missouri. The $509 million financing package will support the development of the Kelso 1 & 2 Solar Projects, which will be operated by Arevon Energy, Inc., marking their first major renewable energy initiative in Missouri. CIBC has taken on the roles of Left Lead Arranger, Coordinating Lead Arranger, Bookrunner, Green Loan Coordinator, and Administrative Agent for this venture. Ines Serrao, Head of U.S. Renewables at CIBC, highlighted the bank’s commitment to advancing the U.S. renewable energy sector through this strategic collaboration with Arevon.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- United States – The solar project and related financial activities are taking place in the United States.
- Missouri – The specific location for the solar project is in Scott County, Missouri.
- Canada – CIBC, a Canadian financial institution, is centrally involved in the financing arrangement.
Industry
- Renewable Energy – The article discusses the development of a solar facility, indicative of the renewable energy industry's focus on sustainable and environmentally friendly energy sources.
- Financial Services – CIBC’s involvement as a financier highlights the financial services industry’s role in providing capital and structuring financing for energy projects.
- Legal Services – BCLP advising on the transaction denotes the legal services sector’s involvement in navigating the legal considerations of large-scale energy financing.
Financials
- $509 million – Total financing package secured for the development of the Kelso 1 & 2 Solar Projects.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Canadian Imperial Bank of Commerce (CIBC) | Financier | Company | CIBC acts in multiple roles including Left Lead Arranger and Green Loan Coordinator, facilitating the solar project’s financing. |
| Arevon Energy, Inc. | Developer/Operator | Company | Arevon Energy is responsible for developing and operating the Kelso Solar Projects in Missouri. |
| Bryan Cave Leighton Paisner LLP (BCLP) | Legal Advisor | Company | BCLP served as local counsel for CIBC, advising on the financing transaction. |