US IPP Avantus closes billion-dollar financing for solar PV and battery storage projects

energy-storage.news Aug 10, 2026

US IPP Avantus closes billion-dollar financing for solar PV and battery storage projects

Curated by Shubham · TechCapsules · Aug 10, 2026

AI-summarised brief · reviewed before publication

Avantus, a U.S. independent power producer, secured a US$1.05 billion corporate credit facility to fund its solar‑plus‑storage strategy in California and the Desert Southwest. The loan, led by SMBC and a consortium that includes ING Capital, HSBC, KKR, Truist Securities and new arrangers such as BHI, CIBC and Natixis, expands existing commitments and gives Avantus flexibility to move projects from development to construction. The company’s pipeline totals 24 GW, with 13 GW of solar paired with 44 GWh of battery energy storage. Recent milestones include the commercial operation of the 200 MW Aratina 1 solar‑storage plant, US$525 million construction financing for Aratina 2, and a 20‑year PPA for the 200 MW Rexford 2 project. Avantus aims to have 788 MW online and another 800 MW under construction by the end of 2026, backed by investors KKR and EIG.

💡 Why It Matters

· The financing unlocks capital for a wave of utility‑scale solar‑storage projects that could dramatically increase clean‑energy capacity in a region critical to U.S.
· renewable targets.

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