Avantus Announces Completion of Acquisition by KKR and Closing of $522 Million Development Facility
Avantus, a leading U.S. developer of utility-scale solar and solar-plus-storage projects, has announced the completion of its acquisition by KKR, a global investment firm. Alongside this, Avantus has secured a $522 million development facility arranged by KKR Capital Markets and Sumitomo Mitsui Banking
This financial backing will fuel Avantus' growth and execution of its development portfolio, which now spans over 30 GWdc of solar and 94 GWh of energy storage across the Western United States. KKR and EIG, the sole equity investors in Avantus, have invested upwards of $1 billion through equity and debt commitments to support the company's expansion.
The acquisition and funding aim to accelerate the deployment of Avantus' pipeline, including some of the nation's largest solar and energy storage projects, capitalizing on the increasing demand for clean energy driven by factors such as data center growth and artificial intelligence advancements.
Avantus, un importante sviluppatore di progetti solari su larga scala e di solare con accumulo negli Stati Uniti, ha annunciato il completamento della sua acquisizione da parte di KKR, una società di investimento globale. Insieme a questo, Avantus ha ottenuto un finanziamento per lo sviluppo di 522 milioni di dollari organizzato da KKR Capital Markets e Sumitomo Mitsui Banking.
Questo sostegno finanziario alimenterà la crescita di Avantus e l'esecuzione del suo portafoglio di sviluppo, che ora comprende oltre 30 GWdc di energia solare e 94 GWh di accumulo energetico in tutto il West degli Stati Uniti. KKR ed EIG, i soli investitori in capitale di Avantus, hanno investito oltre 1 miliardo di dollari attraverso impegni di capitale e debito per sostenere l'espansione dell'azienda.
L'acquisizione e il finanziamento mirano ad accelerare l'implementazione del portfolio di Avantus, inclusi alcuni dei più grandi progetti solari e di accumulo energetico della nazione, capitalizzando sulla crescente domanda di energia pulita dovuta a fattori come la crescita dei data center e i progressi nell'intelligenza artificiale.
Avantus, un desarrollador líder en EE. UU. de proyectos solares a gran escala y de solar más almacenamiento, ha anunciado la finalización de su adquisición por parte de KKR, una firma de inversión global. Junto a esto, Avantus ha asegurado una facilidad de desarrollo de 522 millones de dólares organizada por KKR Capital Markets y Sumitomo Mitsui Banking.
Este respaldo financiero impulsará el crecimiento de Avantus y la ejecución de su portafolio de desarrollo, que ahora abarca más de 30 GWdc de energía solar y 94 GWh de almacenamiento de energía en el oeste de Estados Unidos. KKR y EIG, los únicos inversionistas de capital en Avantus, han invertido más de 1 mil millones de dólares a través de compromisos de capital y deuda para apoyar la expansión de la empresa.
La adquisición y el financiamiento tienen como objetivo acelerar la implementación de la cartera de Avantus, incluidos algunos de los proyectos solares y de almacenamiento de energía más grandes del país, capitalizando la creciente demanda de energía limpia impulsada por factores como el crecimiento de los centros de datos y los avances en inteligencia artificial.
Avantus는 미국의 유틸리티 규모의 태양광 및 태양광-저장 프로젝트의 선도적인 개발업체로, KKR라는 글로벌 투자 회사에 의한 인수 완료를 발표했습니다. 이와 함께 Avantus는 KKR Capital Markets와 Sumitomo Mitsui Banking이 주관한 5억 2200만 달러의 개발 자금을 확보했습니다.
이 재정 지원은 Avantus의 성장과 개발 포트폴리오 실행을 촉진할 것이며, 현재 미국 서부에서 30 GWdc 이상의 태양광과 94 GWh의 에너지 저장을 포함합니다. Avantus의 유일한 주식 투자자인 KKR과 EIG는 회사의 확장을 지원하기 위해 10억 달러 이상을 주식 및 부채 약정을 통해 투자했습니다.
이번 인수 및 자금 지원은 데이터 센터 성장과 인공지능 발전과 같은 요인들에 의해 촉발된 청정 에너지 수요 증가를 활용하여 Avantus의 파이프라인 배치를 가속화하는 것을 목표로 합니다.
Avantus, un développeur américain de projets solaires à grande échelle et de solaire avec stockage, a annoncé la finalisation de son acquisition par KKR, une société d'investissement mondiale. Parallèlement, Avantus a sécurisé une facilité de développement de 522 millions de dollars organisée par KKR Capital Markets et Sumitomo Mitsui Banking.
Ce soutien financier alimentera la croissance d'Avantus et l'exécution de son portefeuille de développement, qui couvre désormais plus de 30 GWdc de solaire et 94 GWh de stockage d'énergie dans l'ouest des États-Unis. KKR et EIG, les seuls investisseurs en capital d'Avantus, ont investi plus de 1 milliard de dollars par le biais d'engagements en actions et en dettes pour soutenir l'expansion de l'entreprise.
L'acquisition et le financement visent à accélérer le déploiement du pipeline d'Avantus, y compris certains des plus grands projets solaires et de stockage d'énergie du pays, en capitalisant sur la demande croissante d'énergie propre, alimentée par des facteurs tels que la croissance des centres de données et les avancées en intelligence artificielle.
Avantus, ein führender US-Entwickler von Solar- und Solar-plus-Speicherprojekten im großen Maßstab, hat den Abschluss seiner Übernahme durch KKR, eine globale Investmentfirma, bekannt gegeben. Gleichzeitig hat Avantus eine Entwicklungsfinanzierung von 522 Millionen US-Dollar arrangiert, die von KKR Capital Markets und Sumitomo Mitsui Banking bereitgestellt wurde.
Diese finanzielle Unterstützung wird das Wachstum und die Umsetzung von Avantus' Entwicklungsportfolio fördern, das nun über 30 GWdc Solarenergie und 94 GWh Energiespeicherung im Westen der Vereinigten Staaten verfügt. KKR und EIG, die einzigen Eigenkapitalinvestoren in Avantus, haben über 1 Milliarde US-Dollar in Form von Eigen- und Fremdkapital zur Unterstützung der Expansion des Unternehmens investiert.
Die Übernahme und Finanzierung zielen darauf ab, die Bereitstellung von Avantus' Pipeline zu beschleunigen, einschließlich einiger der größten Solar- und Energiespeicherprojekte des Landes, um von der zunehmenden Nachfrage nach sauberer Energie zu profitieren, die durch Faktoren wie das Wachstum von Rechenzentren und Fortschritte in der künstlichen Intelligenz vorangetrieben wird.
- KKR's majority equity investment provides substantial financial backing for Avantus' growth
- Secured $522 million development facility to accelerate project deployment
- Avantus' portfolio expanded to over 30 GWdc of solar and 94 GWh of energy storage
- KKR and EIG have invested upwards of $1 billion to support Avantus' growth
- Positioned to capitalize on increasing clean energy demand driven by data centers and AI
- None.
Insights
The acquisition of Avantus by KKR and the securing of a
The
Notably, KKR and EIG's combined investment of upwards of
From an investor's perspective, KKR's strategy of funding this investment through its global climate strategy aligns with the broader trend of institutional investors seeking exposure to the energy transition. With KKR having invested more than
The transaction's completion and the substantial development facility underscore the positive outlook for utility-scale solar and energy storage projects, particularly in key markets like California and Texas. As the demand for clean energy continues to grow, companies with robust project pipelines and strong financial backing, like Avantus, are well-positioned to capture market share and deliver value to investors.
The acquisition of Avantus by KKR and the accompanying
The timing of this investment is particularly noteworthy, given the increasing demand for clean energy driven by data centers, artificial intelligence and electrification trends. These factors are creating a favorable market environment for large-scale renewable projects and Avantus is now well-positioned to capitalize on these opportunities.
Avantus' track record of developing and selling projects totaling 7.3 GWdc of solar and 17 GWh of storage demonstrates their capability to execute on large-scale projects. The additional financial resources provided by KKR and EIG will likely enable Avantus to take on even more ambitious projects and potentially accelerate their development timelines.
From a technical perspective, the focus on solar-plus-storage projects is particularly promising. Energy storage is becoming increasingly important for grid stability and maximizing the value of intermittent solar generation. Avantus' emphasis on this combined approach aligns well with the evolving needs of the power sector.
However, it's important to note that the success of these projects will depend on factors such as interconnection queue positions, transmission capacity and the ability to secure offtake agreements. The
KKR’s majority equity investment and arrangement of a new development facility to accelerate the deployment of Avantus’ pipeline, including some of the nation’s largest solar and energy storage projects
“There is enormous opportunity ahead for Avantus, and we look forward to supporting the company in this next phase of growth. The need for clean energy in
KKR is participating in the facility through vehicles and accounts managed by KKR’s insurance business. The proceeds will be used to accelerate the build-out of Avantus’ pipeline and fund key activities, including security postings for power purchase agreements (PPAs), interconnection agreements and procurement deposits.
“This announcement is a ringing endorsement of our proven team at Avantus, providing us the capital to advance our portfolio and develop high-performing, high-value clean energy projects,” said Stephanie Perry, Chief Operating Officer at Avantus. “We are excited to work with KKR and our existing investor EIG to achieve our growth plans and build on our track record of delivering record-breaking clean energy solutions that will decarbonize our planet at scale.”
In March, KKR announced that it had agreed to acquire a majority interest in Avantus. With the close of the transaction, KKR and EIG, a leading institutional investor in the global energy and infrastructure sectors, are the sole equity investors in Avantus. Together, KKR and EIG have invested upwards of
Since its founding, Avantus has developed and sold projects and interconnection positions totaling 7.3 GWdc of solar and 17 GWh of storage. The company has a substantial presence and track record of successful development in the southwestern
With over 15 years of experience in infrastructure investing, KKR has deep expertise in renewable energy and climate-related investments and has invested more than
About Avantus
Avantus is shaping the future by making reliable, low-cost clean energy a global reality. Our legacy of leadership in next generation solar energy includes developing one of the nation’s largest solar clusters and one of the first projects to beat fossil fuel prices back in 2016. Today, we are expanding the boundaries of existing technologies to build one of the largest portfolios of solar plants with integrated storage, capable of providing 20 million people with affordable, zero-emission energy – day and night.
For more information, please visit www.avantus.com, and follow Avantus on LinkedIn.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with
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MEDIA:
Avantus
Katie Struble
press@avantus.com
KKR
Liidia Liuksila
(212) 750-8300
media@kkr.com
Source: KKR
FAQ
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