KKR Invests in Avantus to Support Renewable Energy Deployment in the United States - Seite 2

Cecilio Velasco, Managing Director in KKR’s Infrastructure team, added, “We look forward to working with Avantus and EIG and leveraging KKR’s substantial resources and operational expertise to accelerate the growth of the business. Today marks the beginning of a new era for the company, one that will help further the transition of the power sector through sustainable, clean energy solutions.”

Blair Thomas, EIG Chairman and CEO, said, “EIG has been pleased to support Avantus since 2021, through capital solutions uniquely tailored to the company’s needs and goals. Throughout our partnership, Avantus has maintained and extended its position as one of the leading and most innovative renewables developers in the United States, helping to spur the industry’s rapid growth and expanding access to affordable, reliable and clean energy. We are excited to continue working with the Avantus team and are pleased to welcome KKR as we pursue the next phases of Avantus’ growth and evolution.”

“Solar is the fastest growing electricity source in the U.S.², and along with energy storage, will serve as the backbone of a modern electric grid that is clean, reliable and resilient,” said Patrick Goff, Chief Financial Officer at Avantus. “KKR’s investment provides Avantus the financial backing and expertise to execute on our ambitious portfolio and lead the energy transition across the Western United States. We are thrilled to embark on this new chapter with KKR and EIG and continue our company’s growth.”

Following the closing of the transaction, KKR will support Avantus in creating an equity ownership program to provide all employees the opportunity to participate in the benefits of ownership of the company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 40 companies.

With over 15 years of experience in infrastructure investing, KKR has deep expertise in renewable energy and climate-related investments and has invested more than $15 billion in this sector from its infrastructure platform alone. KKR is funding the investment from its global climate strategy, which is dedicated to investing in solutions at scale to support the transition to a low-carbon economy.