As per ESG Today, 2009-founded Avantus is a California based company that develops and operates large solar and storage installations, focusing on California and southwestern US states.

Avantus plans to use the 522 million USD to accelerate the deployment of its planned solar projects, amounting to over 30 GW, as well as storage systems cumulating 94 GWh across the Western US. Through these developments, the company looks to secure power purchase agreements, as well as interconnection agreements.

Stephanie Perry, Chief Operating Officer at Avantus said that the investment is "providing us the capital to advance our portfolio and develop high-performing, high-value clean energy projects. We are excited to work with KKR and our existing investor EIG to achieve our growth plans and build on our track record of delivering record-breaking clean energy solutions that will decarbonize our planet at scale."

Following the transaction, KKR and existing investor EIG are the only financers of Avantus. KKR provided the funds through its climate solutions strategy investment fund, dedicated to supporting sustainable solutions that can lead to a low-carbon economy.