KKR has signed an agreement to acquire a majority stake in Avantus, with it and existing investor EIG being sole equity investors.
Founded in 2009, Avantus owns a project pipeline of 30 GW of solar and 94 GWh of battery storage, primarily in the southwestern U.S. and California.
“To support an economy-wide energy transition, there is a need to significantly expand renewable energy generation by 2050 and enable grid electrification,” says KKR’s Charlie Gailliot.
“Because of these tailwinds, we see enormous opportunity for Avantus. The company’s impressive team and development track record, coupled with its mature project pipeline, set it apart from other renewables developers. We are delighted to support Avantus in realizing its full potential.”
Following the closing of the transaction, KKR will support Avantus in creating an equity ownership program for its employees.
Jefferies acted as sole financial advisor to KKR. KKR Capital Markets and Sumitomo Mitsui Banking acted as the lead structuring agents and arrangers of a development financing facility for the company. Scotiabank served as financial advisor to Avantus.
The post KKR Acquires Majority Stake in Avantus appeared first on Solar Industry.
Do you think this will change American lives for the better? If so, how?
Rewriting the U.S. Constitution will take some work, as I’m sure you’re aware.
What does the most affluent state in America need in its next governor? I’m pretty sure it not a Trump supporter.
Yes, we have traffic, which we hate. But that’s because everybody and his dog wants to be here for our economic opportunities and our natural beauty.
In general, we reject racism, ignorance, corruption, and environmental destruction.
I can’t swear that the content of the meme here is accurate; in fact, most affluent Scandinavians I run across admit that they pay higher taxes than Americans.
They claim that the attraction is that they aren’t forced to live among uneducated slobs where people are dying of treatable diseases with masses of impoverished people living on the streets.
Isn’t there something to be said for that?
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