Updated February 25, 2026 – Arevon Energy has secured a $183 million financing package, including a tax-equity bridge loan, a construction-to-term loan and a letter of credit to support ongoing construction of its 124 MWdc Big Muddy Solar Project in Jackson County, Illinois. The transaction, coordinated by lenders Intesa Sanpaolo and Crédit Agricole CIB, positions Big Muddy to become a major Midwest utility-scale solar asset capable of powering over 24,000 homes. The solar project will also generate significant local economic and tax benefits upon commercial operation in late 2026 alongside other installations like Eldorado Solar Project that is a pioneer in agrivoltaics in Illinois.

Formerly known as Campbell Solar, Big Muddy Solar Project represents Arevon’s first utility-scale solar facility in Illinois. It is also part of the company’s expanding Midwest portfolio. Construction, which began in late 2025, is advancing under a long-term power purchase agreement (PPA) with an unnamed multinational technology corporation.

Big Muddy Solar Project: Financing Structure and Economic Impact

The $183 million debt package comprises:

• A tax-equity bridge loan

• A construction-to-term loan

• A letter of credit

Coordinating loan arrangers and green loan coordinators include:

• Intesa Sanpaolo – IMI CIB Division

• Crédit Agricole CIB (also serves as an administrative Agent)

• Collateral Agent: BNY Mellon

• Legal Advisors: Latham & Watkins as sponsor counsel, Milbank LLP as lender counsel, Husch Blackwell as sponsor local counsel, and BCLP as lender local counsel

Community Economic Impact:

• Expected peak construction employment: 250 workers

• Estimated lifetime property tax contributions: $12.6 million

• Increased local spending at businesses and services during construction

The financing also adds to Arevon’s growing track record with more than $5.1 billion in project financing across its U.S. portfolio over recent years.

Project Team Behind Big Muddy Solar Project

Developer and Owner

• Arevon Energy, Inc. as developer, owner and long-term operator; headquartered in Scottsdale, Arizona, with a regional presence in New York City.

Lenders and Financial Partners

• Intesa Sanpaolo – Coordinating lead arranger and green loan coordinator

• Crédit Agricole CIB – Coordinating lead arranger, green loan coordinator and administrative agent

• BNY Mellon – Collateral agent

Legal Counsel

• Latham & Watkins – Sponsor counsel

• Milbank LLP – Lender counsel

• Husch Blackwell – Sponsor local counsel

• BCLP (Bryan Cave Leighton Paisner) – Lender local counsel

Contractors and Technical Partners

• Signal Energy as design/build EPC contractor

• Local labor unions including IBEW Local 702, IUOE Local 318, LIUNA Local 773 supporting workforce deployment

Community and Local Partners

• Jackson County Board – local governance cooperation

• Murphysboro Chamber of Commerce – local business support

• Regional Office of Education 30 – educational partnership engagement

• Southern Illinois University Carbondale STEM Education Research Center

• Local school foundations

• Fire and EMS departments

• Food security and housing support organizations

• Local youth development groups

Arevon Breaks Ground on $200 Million Big Muddy Solar Plant in Southern Illinois

Reported November 20, 2025 – Arevon Energy, a major U.S. developer and operator of renewable energy assets, officially broke ground on its 124 MWdc Big Muddy Solar Project in Jackson County. The event, held on November 18, marked the start of construction on what the company describes as a flagship investment in Illinois — nearly $200 million in private capital.

When completed by the end of 2026, the plant is expected to produce enough electricity to power more than 24,000 average U.S. homes, according to Arevon. The company says the site’s output will be sold under a long-term virtual power purchase agreement (VPPA) with a major American technology company, securing financial stability for the project.

Local Economics and Jobs

Construction of Big Muddy Solar is being managed by Signal Energy, and will involve over 250 workers, drawing from local labor unions including IBEW Local 702, IUOE Local 318, and LiUNA Local 773. Beyond the immediate construction employment, Arevon projects more than $12.6 million in property tax revenue over the life of the project, supporting schools, public safety, and infrastructure in Jackson County.

Community leaders welcomed the investment. Jackson County Board Chairman C.J. Calandro called it a “long-term partnership,” emphasizing that the project could help stabilize local school districts and support county growth. Meanwhile, the Jackson Growth Alliance highlighted how reliable local power supply could boost the county’s appeal to future businesses.

Environmental Design and Stewardship

Arevon has prioritized environmental stewardship in the solar plant’s design. A pollinator habitat will be developed beneath and around the solar panel arrays, with native plant species that promote soil health and biodiversity. The company says this is not just a cosmetic “green” feature, but an integrated part of how they plan to manage the land long term.

Community Engagement

During Big Muddy Solar Project groundbreaking event, local and company leaders, landowners, and community stakeholders came together for speeches and remarks. Kevin Smith, CEO of Arevon, pledged that the company would remain an active presence in Jackson County, focusing on community investment in education, food security, housing, and public safety.

Arevon has already established partnerships with a host of regional institutions, including Southern Illinois University Carbondale’s STEM Education Research Center, local fire and emergency services, youth organizations, and food assistance providers. According to Arevon, the project’s impact will extend well beyond energy generation.

Big Muddy Solar is part of Arevon’s broader Midwest expansion. The company has recently brought other large-scale solar projects online in Indiana and is building Kelso Solar Project ,a 430 MWdc facility in Missouri. Arevon says this regional pipeline underscores its commitment to delivering renewable energy while reinforcing local economies in the Midwest.

In Illinois, Northern Sun Energy is launching its first in-state project—a 7.5-MWp fixed-tilt solar array paired with 1,050 kVA of battery storage that will directly power Prysmian Group’s cable manufacturing plant in Du Quoin

Big Muddy Solar Project Factsheet

Project Name: Big Muddy Solar

Developer: Arevon Energy, Inc.

Location: Jackson County, near Murphysboro, Illinois

Capacity: 124 MWdc

Total Investment: Approximately $200 million in private capital

Project Status: Construction officially began on November 18, 2025

Expected Completion: End of 2026

Power Offtaker: Long-term Virtual Power Purchase Agreement (VPPA) with a major U.S. technology company

Construction Contractor (EPC): Signal Energy

Jobs Created: More than 250 construction jobs, with participation from local labor unions

Projected Tax Contribution: More than $12.6 million in local property tax revenue over the project’s lifetime

Key Environmental Feature: Pollinator-friendly habitat planted beneath and around solar arrays

Regional Strategy: Part of Arevon’s expanding clean-energy development portfolio across the Midwest