Avantus U.S. solar‑storage expansion

In late July 2026 Avantus’ 200‑MW Aratina 1 solar‑plus‑storage plant in Kern County, California, entered commercial operation, delivering 200 MW of solar power and 500 MWh of battery storage. The project was financed by a consortium led by Sumitomo Mitsui Banking Corp., Truist Securities, ING Capital and Mizuho, with a $300 million tax‑equity commitment, and secured additional funding for the adjacent Aratina 2 phase.

A few weeks later, Avantus closed a $1.05 billion corporate credit facility, more than doubling the financing it had obtained in July 2024. Led by SMBC and involving banks such as ING, HSBC, KKR, Truist, Bank Hapoalim, CIBC, KeyBanc, Mizuho, National Bank of Canada and Natixis, the loan will fund the expansion of its utility‑scale solar and storage pipeline, which totals 24 GW of capacity (13 GW solar paired with 44 GWh storage). The new financing supports ongoing construction of Aratina 2, a 20‑year PPA for the 200‑MW Rexford 2 project with 800 MWh of storage, and aims to have 788 MW in operation and another 800 MW under construction by the end of 2026, delivering dispatchable electricity to more than 10 million Americans.