Arevon Energy has closed a $120 million tax equity commitment from Wells Fargo Bank for its 124 MWdc Big Muddy Solar Project in Jackson County, Illinois, the company announced on October 27 via PR Newswire. It is Arevon’s second tax equity transaction with Wells Fargo and brings its executed project financings to more than $5.2 billion. Construction began in 2025 and commercial operations are expected by the end of 2026. One reconciliation note: the $183 million debt package Arevon announced for Big Muddy in February 2026 included a tax equity bridge loan, so the two headline figures should not be added together as separate new money. The project is expected to deliver more than $12.6 million in property tax payments over its operating life.
PowerBank Corporation’s joint development partner has executed the first lease under their joint development agreement for a 2 MW modular data center in Ontario, the company said in an October 29 release filed with the SEC (accession 0001493152-26-049190). PowerBank expects to earn revenue by leasing the powered shell to an AI cloud operator, which would install and operate its own GPUs, and describes the site as the first of several planned across Ontario. The scale is small, but the powered-shell lease model is the same structure being used at gigawatt scale elsewhere.
Stonepeak’s acquisition of BMO’s transportation finance and vendor finance businesses, whose completion was noted in the October 31 roundup, has been launched as an independent company named Longview Capital Solutions, according to trade reporting in Institutional Investing in Infrastructure. Terms of the acquisition remain undisclosed. This item is single sourced to trade coverage.
In South Africa, former president Kgalema Motlanthe used the Drakensberg Inclusive Growth Forum on October 30 to call for a sovereign wealth fund financed by a defined share of future mineral and resource revenues and proceeds from state assets, the Sowetan reported. He also urged greater use of retirement fund capital for domestic infrastructure, with safeguards for savers. Finance Minister Enoch Godongwana told the same forum that lifting investment to between 25 percent and 30 percent of GDP will need both public and private capital. This is a proposal, not a fund: no vehicle, mandate or funding law has been announced.
The European Commission’s energy directorate opened a call for applications for its Energy Transition Investment Council on October 30. No membership, mandate detail or capital commitment was published with the call in the material available to this edition.