Arevon secures long-term REC deals for Illinois solar project
Arevon Energy has signed three 20-year indexed renewable energy credit contracts for its 200 MWac/275 MWdc Panther Energy Project in Perry County, Illinois. The counterparties are Ameren Illinois, Commonwealth Edison, and MidAmerican Energy, following the project's selection in the Illinois Power Agency's Summer 2026 Indexed REC procurement. Construction is planned to start in 2027 and finish in 2028, with first-year deliveries of 421,131 RECs helping the utilities satisfy Illinois' Renewable Portfolio Standard.
The Panther Energy Project is planned for Perry County, Illinois, with a capacity of 200 MWac and 275 MWdc. Its three long-term contracts stem from the Summer 2026 indexed renewable energy credit solicitation administered by the Illinois Power Agency, which the Illinois Commerce Commission approved. The first year is set to provide 421,131 RECs, split across Ameren Illinois, Commonwealth Edison, and MidAmerican Energy. Construction is scheduled for 2027 through 2028.
Arevon also reported progress in September 2026 on the Cormorant battery storage project in Daly City, California. That system is designed for 250 MW and 1,000 MWh, using lithium iron phosphate batteries, with operations expected in 2027. It is described as able to serve 321,000 homes for as long as four hours.
The contracts may give Illinois utilities a longer-term supply of RECs, potentially supporting compliance with the state's renewable portfolio standard. Residents and businesses in the utilities' service areas could see gradual grid-related changes, though costs and benefits are uncertain. Local communities near Perry County may experience construction activity and land-use effects. The project could also signal continued demand for solar development and storage, affecting workers and suppliers, but outcomes depend on implementation and market conditions.