KKR has signed definitive agreement to acquire a majority stake in Avantus, a premier U.S. developer of large utility-scale solar and solar-plus-storage projects.
Following the close of the transaction, KKR and existing investor EIG, an institutional investor in the global energy and infrastructure sectors, will be the sole equity investors in Avantus. Both equity sponsors are dedicated to supporting the next phase of Avantus’ growth, including having secured commitments for a substantial development financing facility alongside their equity commitments to the company, totaling upwards of $1 billion in the aggregate.
Founded in 2009, Avantus supports solar and energy storage development throughout the project lifecycle — from selecting a project site through operations — and owns a large project pipeline of 30 gigawatts peak of solar and 94 gigawatt hours of battery storage, enough to provide 20 million people with clean, reliable power. The company has a substan