Avantus Secures $1.05 B Credit Facility to Expand U.S. Solar and Storage Projects

U.S. renewable‑energy developer Avantus has closed a $1.05 billion corporate credit facility, more than doubling the $522 million financing it secured in July 2024. The loan, led by Sumitomo Mitsui Banking Corporation (SMBC) with participation from ING, HSBC, KKR, Truist and new lead arrangers such as Bank Hapoalim, CIBC, KeyBanc, Mizuho, National Bank of Canada and Natixis, will fund the expansion of utility‑scale solar and energy‑storage projects across California and the Desert Southwest.

Avantus’ pipeline totals 24 GW of capacity, including 13 GW of solar paired with 44 GWh of storage. Recent milestones include the commercial operation of the 200‑MW Aratina 1 solar plant with 500 MWh of storage in Kern County, California, and financing for the adjacent Aratina 2 project. The company also signed a 20‑year power‑purchase agreement for the 200‑MW Rexford 2 project in Tulare County, which adds 800 MWh of storage. Avantus expects 788 MW to be in commercial operation and another 800 MW under construction by the end of 2026, delivering dispatchable electricity to more than 10 million Americans. CEO Cliff Graham said the financing signals strong partner confidence and provides the financial strength to deliver affordable, reliable power.