Arevon Hires Nimmi Kavasery as Managing Director, Project Finance

Former Bank of America executive brings 15 years of finance experience to Arevon

NEW YORK AND SCOTTSDALE, Arizona., July 8, 2024 /PRNewswire/ — Arevon Energy, Inc., a leading developer, owner and operator of renewable energy resources, announced that Nimmi Kavasery has joined Arevon as Managing Director, Project Finance. New York office. Kavasery brings 15 years of finance experience to the role, including more than a decade of clean energy project finance experience during his time at Bank of America and GE Capital – Energy Financial Services.

Kavasery most recently served at Bank of America as a Director in the Global Sustainable Finance Group, where she co-led the bank’s tax credit syndication practice. Prior to that, she spent eight years as a Senior Vice President in Bank of America’s Renewable Energy Finance practice, where she focused on the bank’s tax equity investments. Prior to joining Bank of America, Kavasery was an Assistant Vice President at GE Capital – Energy Financial Services.

In his new role as Managing Director of Arevon’s Project Finance Team, Kavasery will manage the negotiation and execution of project finance and the structuring of tax equity partnerships. Kavasery will work under the direction of Denise TaitArevon’s Chief Investment Officer Joins Company New York In April, he took up a new office and headed Arevon’s financing and investment activities.

“Nimmi has a unique set of industry skills and an impressive track record, including closed clean energy transactions with a combined value exceeding $2.5 billion“, said Tait. “As a leader in climate finance, Arevon continues to expand its diversified portfolio and Nimmi will add key experience and help drive our expansion.”

Kevin SmithThe Arevon CEO added, “We are excited to bring Nimmi’s experience to Arevon as a valuable addition to our finance team. Her knowledge across the full spectrum of finance, especially tax credit transfer structures, is a welcome addition to our team.”

In recent months, Arevon has announced numerous large-scale project agreements, resulting in the implementation of more than $2.3 billion in financing. They include $529 million financial package for the Vikings Solar-plus-Storage project; $350 million preferred equity, debt and ITC transfer financing for the Condor Energy Storage project; $1.1 billion tax liability and debt financing, including a construction-term loan, a tax equity bridge loan and letters of credit for the Eland 2 Solar-plus-Storage project; and $352 million financing package for the Posey Solar project. Arevon anticipates that the multi-billion dollar project financing agreements will continue to be awarded annually.

“I am excited to be working with Arevon, a company with a strong track record in project finance, well-established partnerships and a great management team led by Kevin, Denise and CFO Bob Krakauer“, said Kavasery. “Arevon is an industry leader in executing innovative financial transactions, as well as developing and servicing sustainable assets. I look forward to working with the company to continue building on this reputation for success and excellence.”

About Arevon

Arevon Energy, Inc. is a leading renewable energy company providing clean energy to utilities and corporations worldwide. North America. Headquarters in Scottsdale, ArizonaAND New YorkArevon uses innovative approaches and cutting-edge technology to develop, build, finance, own and operate clean energy projects. Arevon owns and operates more than 4,000 megawatts (MW) of solar, storage and hybrid solar+storage assets nationwide and has a solid portfolio of more than 6 gigawatts of projects in development that will enable the company to deliver more clean, cost-effective energy to homes and businesses. Its financial strength, innovation and industry experience combine to improve the design and performance of its solar and storage platform. Arevon has been named one of Arizona The best places to work in 2022 and 2023. For more information, visit: www.arevonenergy.com.

SOURCE Arevon