News Release

INDIANA — Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, recently hosted a groundbreaking event for the 251 megawatt Gibson Solar Project which will be constructed in Gibson County.

The approximately $250 million investment will bring significant economic benefits to Gibson County. The project will create more than 250 full-time construction jobs and will disburse more than $83 million in local government payments over the life of the project, providing Gibson County with revenue for schools, first responders and other local needs.

Local landowners will receive steady payments throughout the life of the project, allowing them to diversify their income as well as continue farming in the area. When operational, Gibson Solar will power the equivalent of more than 30,000 Indiana homes annually.

The groundbreaking was attended by Indiana and Gibson County public officials and leaders, landowners and community members, as well as project partners and the Arevon team. Speakers included Larry Bucshon M.D., Congressman (IN-08); Tami Hack, President and Chief Executive Officer at Gibson Economic Development; Nick Burns, Gibson County Commissioner; and Tommy Greer, Chief Commercial Officer at Arevon.

“The Gibson Solar Project represents a significant investment in our state’s future and its economy, highlighting Indiana’s commitment to sustainable growth,” Bucshon said. “With an increasing number of renewable energy projects in development, I am excited for Hoosiers to continue to lead the way in providing a diverse array of reliable energy options.”

“We are proud that our county was selected as the site for a project that will provide renewable energy to tens of thousands of homes in Indiana,” Hack said. “Gibson Solar is a testament to our dedication to bolstering local businesses and bringing numerous employment opportunities to our region.”

“The path to this groundbreaking is marked by Gibson County and Arevon’s unwavering determination and steadfast collaboration that has spanned several years,” Burns said. “The Gibson Solar Project is a demonstration of what we can achieve when we align our resources and ambitions for the common good.”

The groundbreaking ceremony also recognized Arevon’s partners and collaborators, such as Signal Energy, the engineering, procurement, and construction contractor. Arevon and Northern Indiana Public Service Company LLC executed a commercial contract, which, under the terms of the agreement, NIPSCO will own and operate the project following the conclusion of construction.

“We are pleased to partner with Arevon on Gibson Solar, and we are looking forward to the addition of more solar energy to our generation portfolio,” Vince Parisi, NIPSCO President and Chief Operating Officer said. “The construction of Gibson Solar is a crucial step in advancing NIPSCO’s energy generation transition plan to provide sustainable, cost-effective, and reliable energy now and into the future.”

“The Gibson Solar Project is a key addition to Arevon’s portfolio, marking the fourth solar project we have under construction in Indiana,” Greer said. “We celebrate not only the start of construction at Gibson Solar but also the transition to clean energy as an opportunity to create jobs and drive economic expansion.”

Arevon is actively growing its portfolio in the midwestern region of the United States. In addition to Gibson Solar and specifically in Indiana, Arevon recently announced the start of construction for its 192 MWdc Ratts 1 Solar Project and its 73 MWdc Heirloom Solar Project.

The company also issued announcements on a $352 million financing package to build the 228 MWdc Posey Solar Project and announced Posey Solar’s start of construction.