A new US renewable energy company, called Arevon Energy Inc, has been created by combining the US Clean Energy Infrastructure team of Switzerland-based private asset management firm Capital Dynamics and Arevon Asset Management, Capital Dynamics' former exclusive energy asset management affiliate, it was announced today.
Owned by Dutch pension provider APG, the California State Teachers' Retirement System (CalSTRS) and the Abu Dhabi Investment Authority (ADIA), the new company will offer clean energy solutions to utilities and corporations. It will support a platform of 4.5 GW of solar and battery storage in operation, under construction, or late-stage development, plus a pipeline of 3 GW.
Arevon intends to expand its platform through customer acquisition, mergers and acquisitions (M&A) and select development activities.
The combination is seen to complete by early 2022, following receipt of regulatory approvals.
Arevon is led by John Breckenridge, the former head of Clean Energy Infrastructure at Capital Dynamics, as chief executive, and three executive vice presidents -- Justin Johnson, former head of Arevon Asset Management, as chief operating officer, Brian Callaway, who joins from AES, as chief financial officer, and Tommy Greer, who joins from EDP Renewables, as chief commercial officer.
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