Avantus upsizes credit facility to $1.28B, adds five lenders
What's the deal? Solar-and-storage developer Avantus has increased its corporate credit facility to $1.28 billion, adding five new lead arrangers to the syndicate. The debt expands on the $1.05 billion facility the company closed in August 2026.
Who's in? HelabaDealroom has a profile for this one. Try Dealroom →, MUFGDealroom has a profile for this one. Try Dealroom →, NordLB, Santander, and Standard Chartered joined as new lead arrangers. They sit alongside SMBCDealroom has a profile for this one. Try Dealroom →, which serves as administrative agent, collateral agent, and lead arranger, plus existing lenders including HSBC, KKR, MizuhoDealroom has a profile for this one. Try Dealroom →, CIBCDealroom has a profile for this one. Try Dealroom →, and NatixisDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The capacity backs Avantus's push to own and operate projects as an independent power producer across California and the Desert Southwest. Its pipeline totals 24 GW of system capacity, including 13 GW of solar paired with 44 GWh of storage.
Why now? The raise lands days after Avantus named Kim Anderson as chief financial officer to support its growth as an independent power producer. The financing also comes as tighter federal deadlines for solar tax-credit eligibility push developers to advance projects faster.
"We're proud to renew and broaden our relationships with leading project finance banks, which reflects confidence in both our ability to execute and our trajectory as an independent power producer," said Omar Karar, executive vice president of capital markets and M&A at Avantus.
By the numbers: At $1.28 billion, the facility sits in the 97th percentile of all-time US energy debt rounds. It roughly doubles the $522 million line Avantus established in 2024.
The signal: The deal reflects strong bank appetite for scaled renewable platforms, echoed by recent financings such as rPlus EnergiesDealroom has a profile for this one. Try Dealroom →' facility of up to $450 million and Pivot EnergyDealroom has a profile for this one. Try Dealroom →'s $500 million credit line. More lenders signing on signals confidence in solar-and-storage developers moving from building projects to owning and running them.
Read more: markets.financialcontent.com
Image credit: pgegreenenergy
