KKR has signed an settlement to accumulate a majority stake in Avantus, with it and present investor EIG being sole fairness traders.
Based in 2009, Avantus owns a mission pipeline of 30 GW of photo voltaic and 94 GWh of battery storage, primarily within the southwestern U.S. and California.
“To assist an economy-wide vitality transition, there’s a have to considerably broaden renewable vitality technology by 2050 and allow grid electrification,” says KKR’s Charlie Gailliot.
“Due to these tailwinds, we see huge alternative for Avantus. The corporate’s spectacular group and growth monitor report, coupled with its mature mission pipeline, set it other than different renewables builders. We’re delighted to assist Avantus in realizing its full potential.”
Following the closing of the transaction, KKR will assist Avantus in creating an fairness possession program for its workers.
Jefferies acted as sole monetary advisor to KKR. KKR Capital Markets and Sumitomo Mitsui Banking acted because the lead structuring brokers and arrangers of a growth financing facility for the corporate. Scotiabank served as monetary advisor to Avantus.
