Avantus

Avantus

Develops, builds, and operates utility-scale solar.

Overview

Avantus develops, builds, owns, and operates utility-scale solar and energy storage projects, mainly in the Western United States. It manages the full project lifecycle—from development and financing to construction and ongoing operation—and earns revenue by selling clean energy to utilities and large customers. A key differentiator is its integrated, end-to-end approach across project development, financing, construction, and operation, supported by a large project pipeline. A majority stake held by KKR is expected to speed up the deployment of its solar and storage projects. The company’s goal is to provide reliable, low-cost clean energy to communities and businesses while advancing the energy transition.

Funded Recently

About Avantus

Simplify's Rating
Why Avantus is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Energy

Financial Services

Company Size

201-500

Company Stage

N/A

Total Funding

$2.4B

Headquarters

Folsom, California

Founded

2009

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Simplify's Take

What believers are saying

  • Aratina 1 entered commercial operation July 20, 2026 with 200 MW and 500 MWh.
  • Aratina 2 closed $525 million financing July 9, 2026, targeting year-end 2026 operation.
  • Rexford 2 signed a 20-year CPA PPA on July 13, 2026.

What critics are saying

  • Projects started after July 4, 2026 miss the 2030 ITC grandfathering window.
  • Rexford 2 begins construction in 2027, leaving a subsidy and pricing gap.
  • California CCA dependence concentrates revenue; any interconnection delay pushes 2029 cash flows out.

What makes Avantus unique

  • Avantus now owns and operates Aratina 1, proving its IPP pivot.
  • KKR and EIG back Avantus, and August 2026 credit reached $1.05 billion.
  • Avantus controls a 13 GW solar and 44 GWh storage Western pipeline.

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Funding

Total Funding

$2.4B

Above

Industry Average

Funded Over

6 Rounds

Project Real Estate Infrastructure Finance funding comparison data is currently unavailable. We're working to provide this information soon!
Project Real Estate Infrastructure Finance Funding Comparison
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Benefits

Health Insurance

Dental Insurance

Unlimited Paid Time Off

401(k) Company Match

Remote Work Options

Hybrid Work Options

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
TMCnet
Aug 3rd, 2026
Avantus Closes $1.05 Billion Upsized Corporate Credit Facility

Avantus, a leading developer, owner and operator of utility-scale solar and storage projects, today announced the closing of a $1.05 billion corporate credit facility. The upsized facility doubles the $522 million facility previously put in place in July 2024.

San Diego Business Journal
Jul 27th, 2026
Avantus expanding solar, storage projects.

Avantus expanding solar, storage projects. ENERGY: Company Aims to Deliver 5 GW by 2030 July 27, 2026 SAN DIEGO - 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. The clean energy technology company develops utility-scale solar energy and storage projects across California, Nevada and Arizona that could eventually provide 24/7 energy to more than 10 million residents in the region. Avantus brought its newest solar and storage project online in late July, just after announcing a 20-year power purchase agreement (PPA) with the Clean Power Alliance with plans to develop a solar and storage project in Tulare County that could eventually power up to 84,000 homes. "This... will be our fourth project that we're building, owning and operating on our balance sheet," Avantus CEO Cliff Graham said of the Tulare County project. "So we're continuing our march through about 12 projects that we'll have, and we're continuing to move down the pipeline on those." The Rexford 2 solar and storage project will deliver a combined 200 megawatts of solar power generation and storage capacity of 800 megawatt hours for the California power grid, amounting to around 20% of Avantus' operating assets once operational. Avantus initially submitted a bid for the project in 2020 and was shortlisted last year, according to Graham. The company then negotiated on the project for around a year before formalizing the PPA with the Clean Power Alliance, the nonprofit joint powers authority providing clean energy for Los Angeles and Ventura counties. The Rexford 2 project is set to begin construction next year and is projected to create more than 500 union jobs at peak construction before becoming operational in late 2028 and beginning commercial operations in line with the PPA in the second quarter of 2029. "This project provides a fixed long-term price, helping protect our customers from energy market volatility while delivering renewable energy and battery storage that can help meet demand when it matters most," CPA Vice President of Power Supply Lindsay Descagnia stated. Project goes online. Just days after the Rexford 2 announcement, Avantus brought its Aratina 1 solar and storage project online in Kern County, providing 200 megawatts of solar power and 500 megawatt-hours of energy storage for the state's electrical grid. Avantus secured more than $500 million in construction funding, a tax equity bridge loan and letters of credit in 2025 for the project and established long-term PPAs with Central Coast Community Energy - based in Monterey - and Silicon Valley Clean Energy, which is based in Sunnyvale. The first phase of the Aratina project is expected to generate enough power for more than 105,000 homes in California each year. Avantus also secured more than $525 million for the project's second phase, which will deliver an additional 150 megawatts of solar power and roughly 450 megawatt-hours of storage for the state's grid. The company has established a separate PPA with Southern California Edison for Aratina 2. "We're seeing a very robust market for financing projects, where banks are excited to be in renewables, excited to be part of (energy) generation," Graham said. "We're actually seeing really good terms that's been helpful to drive these projects." Avantus' solar and storage projects are particularly timely for homeowners who are still seeking to access the 30% federal investment tax credit (ITC) for solar and other renewable energy systems. The ITC expired at the end of 2025 after being phased out as part of the One Big Beautiful Bill Act, but homeowners can still access the tax credit through solar energy PPAs that are installed and operational by the end of 2027. For developers like Avantus, projects started before July 4, 2026, can also qualify for the tax credit until the end of 2030. "It's a big value driver, and obviously everyone's (focused on) affordability in California now," Graham said. "So I think everyone's trying to grab and pull forward as much as they can before the loss of the ITC for solar plus storage." FOUNDED: 2009 CEO: Cliff Graham HEADQUARTERS: San Diego BUSINESS: Solar power and energy storage technology EMPLOYEES: 180 WEBSITE: avantus.com CONTACT: [email protected] NOTABLE: Global investment firm KKR acquired a majority equity stake in Avantus in 2024 and is the company's primary financial supporter. Eli is an award-winning reporter primarily covering the tech and life sciences industries. He previously worked as the San Diego City Hall reporter for the regional wire City News Service. He has also covered public health, transportation and state and local politics in the San Francisco Bay Area for Local News Matters, the nonprofit arm of the regional wire Bay City News Service, where he also oversaw the development and daily content management of the outlet's public health and COVID-19 news and resource webpage. He is also a contributing writer covering Minor League Baseball for the analysis and commentary website Baseball Prospectus. Eli is a graduate of San Francisco State University and a native of Northern California.

POWER Magazine
Jul 21st, 2026
Avantus brings Aratina 1 solar-plus-storage online in California.

Avantus brings Aratina 1 solar-plus-storage online in California. Tuesday, July 21, 2026 Renewable energy developer Avantus said its Aratina 1 solar-plus-storage project has entered commercial operation in California. The 200-MW/500-MWh installation in Kern County has long-term power purchase agreements (PPAs) with Central Coast Community Energy (3CE) and Silicon Valley Clean Energy (SVCE), a pair of community choice aggregators. Avantus on July 20 said the company will have a controlling stake in Aratina 1 and will operate the facility. The company said the project is among several assets it will oversee as it expands from a clean energy developer to an independent power producer (IPP). "Aratina 1 coming online marks a major milestone for Avantus as an independent power producer, providing reliable clean power to California communities for decades to come," said Cliff Graham, CEO of Avantus. "I'm incredibly proud of what Team Avantus built here. Their expertise across development, construction, financing and operations, and the trust our financing and CCA partners have placed in us, are the foundation we're building our long-term IPP model on." "The Aratina project is a powerful example of how community choice energy turns climate goals into real projects on the ground," said Robert Shaw, CEO of 3CE. "Our long-term commitment to 120 MW from this facility will deliver clean, affordable power to our customers while supporting California's transition away from fossil fuels. We're grateful to partner with Avantus on a project that strengthens grid reliability and invests in the Central Coast's clean energy future." Financing package. Avantus said a consortium of lenders, including Sumitomo Mitsui Banking Corp., Truist Securities, ING Capital, and Mizuho, provided financing of more than $500 million for Aratina 1. The project also secured a $300-million tax equity commitment from Truist Bank. Officials said the project created about 500 jobs at peak construction. "The clean power generated from the Aratina project gets us one step closer to our climate goals. New projects like this are critical in increasing statewide clean capacity and reliability as we reduce our dependence on fossil fuels and move towards an all-electric future," said Monica Padilla, CEO of SVCE. Avantus on Monday said that Aratina 2, the second phase of the Aratina Solar Center, located adjacent to Aratina 1, is currently under construction. Aratina 2 recently closed more than $525 million in financing and is targeting commercial operation before year-end. The Aratina Solar Center when complete will represent a combined 350 MW of solar and 952 MWh of energy storage. Avantus develops, owns, and operates utility-scale clean energy projects across California and the Desert Southwest. The company is backed by strategic investment from KKR and EIG. The company earlier this year closed a financing package of more than $300 million for a project in Arizona. Avantus and Clean Power Alliance, another community choice aggregator, earlier in July announced a 20-year PPA for the Rexford 2 solar-plus-storage project in Tulare County, California. The companies said the deal is for 200 MW of solar power generation paired with a 200-MW/800-MWh battery energy storage system. Construction of Rexford 2 is expected to begin near year, with the facility coming online in 2028. - Darrell Proctor is a senior editor for POWER. Tagged in:

List Solar
Jul 21st, 2026
Avantus launches 200 MW solar, 500 MWh storage.

Avantus launches 200 MW solar, 500 MWh storage. Jul 21, 2026 09:23 AM ET * Avantus' Aratina 1 in Kern County is now live: 200 MW solar plus 500 MWh storage feeds California's grid, boosting reliability and peak power while supporting clean-energy goals. Avantus said its Aratina 1 hybrid renewable energy project in Kern County, California has reached commercial operation. The facility combines 200 MW of solar generation with 500 MWh of battery storage, which began feeding power into the local grid. Avantus said the pairing of photovoltaic output with large-scale storage is designed to improve grid reliability and deliver electricity during peak-demand periods. The company cited California's broader push to expand utility-scale solar and storage to cut greenhouse-gas emissions and increase carbon-free power. Aratina 1 also strengthens Avantus' position as an independent power producer and adds to its Western U.S. portfolio. What does Avantus' Aratina 1 commercial operation mean for grid reliability and peak power? * Commercial operation means Aratina 1 is now fully dispatchable and available to provide power to the California grid under contracted terms, rather than operating only in a limited pilot or testing phase. * The 200 MW solar component can add generation during daylight hours, reducing reliance on more carbon-intensive or slower-to-ramp generation at the system level. * The 500 MWh battery component enables shifting solar energy forward in time, smoothing supply when sunlight drops and helping maintain steadier local voltage and frequency support. * By pairing solar with utility-scale storage, the project can reduce "net-load" variability that can otherwise complicate balancing for grid operators, improving reliability during periods of rapid changes in demand or solar output. * During peak-demand periods - such as evening ramps when temperatures are high and solar generation declines - the battery can discharge to help meet load, lowering the risk of capacity shortfalls. * Reliable peak support can reduce the need for emergency procurement or fast-start generation, which often has higher operating costs and emissions, especially during tight reserve conditions. * More storage online increases the grid's effective capacity margin by adding energy that can be delivered when other resources are limited, strengthening resilience during heat waves and other stress events. * Commercial operation also expands the number of accredited resources that grid operators can plan around for capacity and resource adequacy, improving forecast confidence for peak planning. * For local reliability in Kern County, the project can provide near-term support to the distribution/transmission interface by supplying dispatchable power close to where demand occurs. * From an operational standpoint, the project's ability to recharge and then discharge on command improves short-term system flexibility - useful when other renewables experience sudden output changes.

Avantus
Jul 20th, 2026
Avantus' Aratina 1 project officially online, generating enough clean, reliable energy to power 105,000 California homes.

Avantus' Aratina 1 project officially online, generating enough clean, reliable energy to power 105,000 California homes. Jul 20, 2026 Commercial operations milestone advances independent power producer strategy. SAN DIEGO, Calif. - July 20, 2026 - Avantus announced that the Aratina 1 project in Kern County, California has achieved commercial operations and is now delivering 200 megawatts (MW) of solar and 500 megawatt-hours (MWh) of energy storage to the California grid. Avantus plans to maintain a controlling stake in Aratina 1 and operate the project, the first of several assets as Avantus expands from developer to independent power producer (IPP). The project has long-term power purchase agreements with two community choice aggregators (CCAs) - Central Coast Community Energy (3CE) and Silicon Valley Clean Energy (SVCE) - for the full output of the project, enough to power more than 105,000 California homes annually. "Aratina 1 coming online marks a major milestone for Avantus as an independent power producer, providing reliable clean power to California communities for decades to come," said Cliff Graham, CEO of Avantus. "I'm incredibly proud of what Team Avantus built here. Their expertise across development, construction, financing and operations, and the trust our financing and CCA partners have placed in us, are the foundation we're building our long-term IPP model on." "The Aratina project is a powerful example of how community choice energy turns climate goals into real projects on the ground. Our long term commitment to 120 MW from this facility will deliver clean, affordable power to our customers while supporting California's transition away from fossil fuels," said Robert Shaw, CEO of Central Coast Community Energy. "We're grateful to partner with Avantus on a project that strengthens grid reliability and invests in the Central Coast's clean energy future." "The clean power generated from the Aratina project gets us one step closer to our climate goals. New projects like this are critical in increasing state-wide clean capacity and reliability as we reduce our dependence on fossil fuels and move towards an all-electric future," said Monica Padilla, CEO of Silicon Valley Clean Energy. Financing of more than $500 million for Aratina 1 was provided by a consortium of four lenders led by Sumitomo Mitsui Banking Corporation, Truist Securities, ING Capital, and Mizuho. The project also secured a $300 million tax equity commitment from Truist Bank. The project created approximately 500 jobs at peak construction and will create local operations roles throughout its operating life. Avantus is committed to long-term ownership and community partnerships. Early this year, Avantus launched the Boron Community Partnership Panel, a community-led group of local organizations and residents. The panel provides an ongoing forum for dialogue with the local community and helps guide the project's local investments, with a focus on community-building opportunities that support youth, education, civic, and cultural initiatives. Aratina 2, the second phase of the Aratina Solar Center, located adjacent to Aratina 1, is currently under construction. Aratina 2 recently closed more than $525 million in financing and is targeting commercial operations before the end of the year. Once complete, the Aratina Solar Center will represent a combined 350 MW of solar and 952 MWh of energy storage, helping California meet growing energy demand with reliable, dispatchable power. About Avantus Avantus develops, owns and operates utility-scale clean energy projects across California and the Desert Southwest. Its development pipeline of solar with integrated storage will generate enough dispatchable power to serve more than 10 million Americans, day and night. Backed by strategic investment from KKR and EIG and building on more than a decade of industry leadership, Avantus is growing its position as an independent power producer, delivering affordable, reliable clean energy solutions to meet America's growing energy demand. For more information, please visit www.avantus.com, and follow Avantus on LinkedIn. MEDIA CONTACT Katie Struble Sr. Vice President, Corporate Communications Avantus [email protected]

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