KKR, EIG to Invest $1 Billion in Solar Developer and Projects
- Solar company Avantus also develops battery projects
- Companies plan to finance projects of California firm
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KKR and another private equity firm will invest at least $1 billion into a US solar developer and the company’s projects.
KKR will become the majority owner of solar and storage developer Avantus, the companies said Wednesday. KKR and existing Avantus investor EIG will be the sole equity investors and will help finance projects for the developer. Terms of the deal and size of KKR’s stake weren’t disclosed. The deal includes equity and debt financing, including from third parties.