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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Ørsted Finishes Revolution Wind, RWE Wins German Auction
Allen covers record bank financing for clean energy, Oracle’s 1.7 GW Texas wind deal, RWE’s German auction win, Denmark scrapping its turbine cap, and Revolution Wind finishing off Rhode Island.
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I’m not sure that Fox News caused the decline of our nation, but it certainly makes some level of sense.
When I was young, there was no source of “news” that was based solely on the profit to be made by making Americans stupid and mean. In fact, news in most of the 20th Century really didn’t have any real commercial value, because it wasn’t used to sell drugs and useless crap to elderly, addle-minded white people 24 hours a day.
Thirty years later, we have people who are as addicted to this hate news as alcoholics need another shot of booze.
The civilized world is thrilled to see the Catholic church take on the mantle of environmentalism, especially since the religious right still quotes from the Book of Genesis: Only God can destroy the Earth to justify climate denialism.
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