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.
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Trump Targets Revolution Wind, Nordex Q3 EBITDA Doubles
Allen covers the Trump administration’s bid to reopen Revolution Wind’s permit, a bipartisan Senate permitting deal, Nordex’s doubled third-quarter profit, and GE Vernova’s new wind chief.
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Have you ever wondered why every dictator in human history follows the exact same playbook? Check this outPlato nailed this 2400 years ago, and it’s been on “rinse/repeat” ever since.
On average, I meet perhaps 50 K-12 teachers each year, and I often ask them: What is the biggest challenge you face that impacts your ability to connect with and educate your students?
Here’s a rough tabulation:
Screen time, how it robs kids of their ability to pay attention, impedes social interaction, and makes parenting more difficult: 80%
Everything else combined: 20%
Maybe this is a cynical viewpoint, but it seems like that world of today revolves around the mega-corporations profiting by punishing their customers.
In this case, we have the tech giants ruining the lives of our children. Elsewhere, we have healthcare industry driving people into bankruptcy, Big Oil ruining our planet, the gun lobby murdering our kids, and, of course, an ultra-corrupt government looting our treasury to pay off billionaire donors.
Note that this wasn’t the case when we boomers were growing up 60 years ago. This is a distinctive shift from the 1960s when corporate America was focused on things like color TVs and the Ford Mustang.
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