EL DORADO HILLS, Calif. — June 17, 2025 Avantus announced today it has closed financing of more than $500 million for its Aratina 1 project, provided by a consortium of four lenders led by Sumitomo Mitsui Banking Corporation, Truist Securities, ING Capital, and Mizuho. Located in Kern County, California, the project will deliver 200 megawatts (MW) of solar and 500 megawatt-hours (MWh) of energy storage capacity to the California grid.

The financing package includes construction funding, a tax equity bridge loan and letters of credit. Construction is underway, with operations expected to begin in 2026.

“Executing a deal of this scale in today’s market is no small feat. It speaks to the perseverance and agility of our team, our proven track record, and deep expertise in delivering high-impact solar and storage projects,” said Avantus Chief Executive Officer Cliff Graham. “We look forward to continued partnership with our investors and working together to expand Californians’ access to affordable, reliable clean power.”

Aratina 1 will create up to 250 jobs and generate tax revenue to support local services in Kern County throughout its operating life. The project has signed 20-year power purchase agreements with multiple Community Choice Aggregators (CCAs) in California.

Avantus continues to grow its presence, with approximately 30 gigawatts (GW) of solar and 94 gigawatt-hours (GWh) of energy storage under development across California and the Southwest.

White & Case served as legal counsel to Avantus.