Operating over 6 GW of renewable energy projects across the US, Arevon feels steady about its model amidst changing market conditions, said the company’s CEO Kevin Smith in an interview with NPM.

With tax credits starting to sunset for solar-and-wind projects in the 2H26, Arevon is continuing to look at M&A opportunities for earlier-stage projects, while also sticking to its core focus on developing grid-scale solar and storage. This comes amidst bigger clean energy IPPs pivoting some of its development activities in other areas.

Arevon has roughly 1 GW of projects under construction including the 124 MWdc Big Muddy Solar project in Jackson County, Illinois and the 300 MW/1,200 MWh Nighthawk Energy Storage project tin San Diego County, California. Arevon was actively raising project finance to support both projects, added sources familiar with the situation.

Behind that Smith also sees M&A opportunities in the market with a specific focus on assets that are not facing any setbacks in policy or development.

“We’re looking at M&A, kind of mid-sized development portfolios, and we’re retaining our operating fleet,” he added, commenting on the company’s focus over the next year.

In the past week or so Hecate Energy and RAI Energy, respectively, announced the sale of earlier-stage paired projects in the state of Washington, while Eolus closed the sale of a battery energy storage project in Nevada.

“We don’t see much of a slowdown for 2026,” added Smith.

2026 forecast

When it comes to the broader renewables market, Smith noted that battery and solar projects are projected to fare well throughout the year.

However, the sunsetting of some tax credits, introduced through the One Big Beautiful Bill Act (OBBBA), is of some concern.

“[The administration] has taken away the tax credits for renewables, [it] should create a level playing field and take those subsidies away from conventional energy,” said Smith.

Smith said he also sees permitting and interconnection queues being a challenge this year, especially with the rollout of policy.

“I think it will be a challenge both at the federal and local levels,” said Smith.

Last summer, the Secretary of the Interior Doug Burgum ordered that all wind and solar projects approvals required his personal sign off. Industry sources have advised developers to create proposals that align with the administration’s priorities. This includes lining up solar projects with the administration’s AI policies to gain traction.

Staying in its lane

As other energy IPPs look into adding natural gas to their power generation mix, exploring nuclear SMRs and also pivoting queue positions to support powered land development, Arevon remains very focused on solar-and-storage development.

There is federal support for nuclear projects, but execution is tough as they require high capital, complex regulatory approval and have a limited supply chain, noted Smith. Other challenges like rising water temperatures and water scarcity have been projected to lead to the reduction of power generated by nuclear projects.

Smith does not see this as a future stepping stone for Arevon.

“I actually worked in the nuclear industry way early in my career. It’s extremely expensive, but certainly there are people that are looking at bringing on thermal development arms into their renewable business. We are not considering that at Arevon,” he concluded.

Arevon launched in August 2021 through the merger of Capital Dynamics’ US Clean Energy Infrastructure team and Arevon Asset Management. The platform is 100% owned by an investor group comprised of the California State Teachers’ Retirement System (CalSTRS), Netherlands-based pension fund apg, and the Abu Dhabi Investment Authority (ADIA).