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Avantus Closes $1.05 Billion Upsized Credit Facility to Fuel Solar, Storage Growth

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Solar and storage developer Avantus has closed a $1.05 billion upsized corporate credit facility to accelerate the build-out of its utility-scale portfolio in California and the Desert Southwest, the company stated on Monday.

Arranged by a consortium of financial institutions including SMBC, ING Capital (ING), HSBC (HSBC), KKR (KKR), and Truist Securities (TFC) alongside new lenders, the expanded financing will advance the company's independent power producer strategy in these core markets, according to the company.

Avantus currently maintains a development pipeline totaling 24 gigawatts of system capacity, encompassing 13 GW of solar integrated with 44 GWh of storage.

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