KKR has acquired a majority equity interest in Avantus by investment funds and accounts managed by KKR.
Coinciding with the close of the transaction, Avantus secured a $522 million development facility arranged by KKR Capital Markets and Sumitomo Mitsui Banking. The facility provides Avantus the financial backing to fuel the company’s energy storage development across the western U.S.
“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,” says Stephanie Perry, Avantus COO.
“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.”
