KKR acquires major stake in Avantus, accelerates growth with $522 million financing

Also read: KKR and IGNIS partner to launch platform for green energy solutions 

Cecilio Velasco, Managing Director of KKR’s Infrastructure team, said, “There is enormous opportunity ahead for Avantus, and we look forward to supporting the company in this next phase of growth. “ 

He added, “The need for clean energy in the United States is increasing substantially, driven by many factors, including data centre demand, the rise of artificial intelligence, and growth in electrification. Avantus is well positioned to capitalize on these tailwinds.”  

KKR is engaging in the facility via its insurance business’s vehicles and accounts. The funds will be utilized to fastrack Avantus’ pipeline expansion and support crucial activities.  

The activities include such as security postings for power purchase agreements (PPAs), interconnection agreements, and procurement deposits. 

Also read: Investment firm KKR, HASI launches $2 billion venture for sustainable infrastructure projects 

KKR had unveiled its plan to acquire a majority stake in Avantus. With the transaction now complete, KKR and EIG, a prominent institutional investor in global energy and infrastructure, are the exclusive equity investors in Avantus. 

Together, KKR and EIG have committed over $1 billion in equity and debt to accelerate Avantus’ expansion. 

Since its inception, Avantus has developed and sold projects and interconnection positions totalling 7.3 GWdc of solar and 17 GWh of storage.