NetSuite’s capabilities create value additional value for investors through increased efficiency and scalability across Arevon’s its +$9 billion portfolio of North American solar and wind energy generation assets
Scottsdale, AZ, Jan. 4, 2020 – Arevon, North America’s leading renewable energy asset manager, has implemented Oracle NetSuite to support the rapid growth of its +5GW portfolio of renewable energy generation assets. With NetSuite, Arevon has been able to increase efficiency, visibility, and scalability across its business by taking advantage of a unified and flexible ERP platform to optimize accounting and financial reporting processes and integrate with operational asset management activities.
“With NetSuite, Arevon is continuing to execute on our mission of creating value for long-term asset owners by providing high quality and cost-effective financial and operational asset management services that meaningfully improve overall portfolio performance,” said Jon Faltis, CFO, Arevon. “At our core, we’re in the business of helping owners efficiently manage renewable energy assets in a long-term buy and hold environment. The rapid growth in our clients’ fundraising and deployment of capital over the past couple of years has created a unique opportunity for us to service a large and growing portfolio of assets that comprises recurring activity from longstanding investments and ever-growing activity from new acquisitions by our clients. To maintain such a high operational tempo for our clients, we needed to dramatically improve the efficiency and effectiveness of our accounting and finance organization while preserving our rigorous control environment. NetSuite provides the solution that best meets our requirements.”
Arevon provides a broad range of commercial, technical, and financial asset management services to support asset owners throughout the development, construction, financing, and commercial operations phases of renewable energy asset development. Arevon’s renewables portfolio includes hundreds of financial reporting subsidiaries across multiple structured private equity funds, resulting in a highly complex accounting environment and the need for a flexible and scalable ERP platform. After carefully evaluating many options, Arevon selected Oracle NetSuite to support its growing business.
“NetSuite has provided us the platform to scale in a high growth environment,” said Austin Billingslea, Director of Finance, Arevon. “The team has embraced the change because NetSuite’s nimble configuration has enabled every employee to have a voice that has led to enormous efficiencies. Additionally, management has seen significant benefits due to increased, automated internal controls, a source of contract management and having the visibility of the entire investment portfolio in one place.”
About CD Arevon
Arevon is North America’s leading renewable energy asset manager. With a portfolio of +5GW of renewable energy generation assets, Arevon operates the second largest fleet of solar projects in the United States, representing over $9B of capital investments into renewable energy infrastructure by our clients. Visit Arevon online at https://www.arevonenergy.com/ to learn more.