Perry County – October 13, 2026 -- Arevon Energy has executed three 20-year Indexed Renewable Energy Credit (REC) contracts with Ameren Illinois, ComEd and MidAmerican Energy for its 200 MWac/275 MWdc Panther Energy Project in Perry County, Illinois.
Panther Energy to deliver 421,131 RECs in its first year
The contracts follow Panther Energy's selection in the Illinois Power Agency's (IPA) Summer 2026 Indexed REC procurement, which the Illinois Commerce Commission (ICC) approved. Under the IPA methodology, the project will deliver 421,131 RECs in year one. Those volumes will be allocated among the three utilities through separate long-term contracts with each.
The utilities will use the RECs to meet obligations under the Illinois Renewable Portfolio Standard. The Indexed REC structure provides long-term revenue certainty that supports development and financing of new renewable projects.
Illinois regulator approves 1.55 GW in the Summer 2026 procurement
The procurement was conducted under Illinois's Climate and Equitable Jobs Act (CEJA), enacted in 2021, which established the Indexed REC pricing structure for utility-scale renewable procurements. In total, the ICC approved contracts for 1.55 GW of new renewable capacity. That includes four utility-scale solar projects totaling 740 MWac.
Construction slated for 2027, completion in 2028
Panther Energy is expected to begin construction in 2027 and reach completion in 2028, creating an estimated 200 construction jobs. Once operational, it is expected to generate enough electricity to power more than 37,000 Illinois homes. The project is projected to contribute an estimated $20 million in property tax payments over its operating life, benefiting schools, infrastructure and other public services.
Arevon has opened a local office in Pinckneyville to give landowners, residents and community members direct access to the project team during development and construction.
Tommy Greer, Arevon's Chief Commercial Officer, said the utility agreements move Panther Energy closer to construction and contribute to Illinois's energy goals.
Arevon expands Midwest portfolio with Missouri, Indiana and Illinois assets
Arevon recently started operations at its 430 MWdc Kelso Solar Project in Missouri. It also began operating the Ratts 1 and Heirloom Solar Projects in Indiana, which have a cumulative capacity of 264 MWdc. Ratts 1 and Heirloom won the 2025 Proximo North America Solar Deal of the Year.
The company has nearly completed construction of its 124 MWdc Big Muddy Solar Project in Jackson County, Illinois. Arevon also developed and managed construction of the 251 MWdc Gibson Solar Project and the 228 MWdc Posey Solar Project in Indiana on behalf of local utilities.