Tax equity from Truist completes the capital package for the 150 MW solar and 452 MWh storage project in California, advancing Avantus’ independent power producer strategy

US independent power producer (IPP) Avantus has closed a US$1.05 billion corporate credit facility to support the company’s IPP strategy and accelerate the development of its solar and energy storage portfolio across California and the Desert Southwest.

Expanded credit capacity supports the build-out of Avantus’ solar and storage pipeline across California and the Desert Southwest to meet rising energy demand

The move to San Diego also reflects a broader shift in the company’s strategy. Historically, Avantus primarily developed solar and storage projects and then sold them to long-term infrastructure owners and investors. But now the company increasingly owns and operates its projects as an independent power producer.

Avantus is well on its way to supporting the generation of 5 gigawatts of solar
power across the desert southwest by the end of the decade.

US independent power producer (IPP) Avantus has started commercial operations at its Aratina 1 project in Kern County, California, which combines 200MW of solar PV capacity and a 500MWh battery energy storage system (BESS).