Avantus, a developer, owner and operator of utility scale solar and energy storage projects, has increased commitments under its corporate credit facility to 1.28 billion dollars from 1.05 billion dollars, the company announced on November 4. The expanded facility builds on the 1.05 billion dollar facility Avantus closed in August 2026, an increase of about 230 million dollars.
Helaba, Mitsubishi UFJ Financial Group, Norddeutsche Landesbank, Santander and Standard Chartered joined the lending consortium as new lead arrangers. Existing lenders include Sumitomo Mitsui Banking Corporation, which serves as administrative agent, collateral agent and lead arranger, alongside ING Capital, HSBC, KKR, Truist Securities, Bank Hapoalim, Canadian Imperial Bank of Commerce, KeyBanc Capital Markets, Mizuho, National Bank of Canada Capital Markets and Natixis Corporate and Investment Banking. KKR Capital Markets and EIG Capital Markets served as placement agents.
The company said the additional financing will support its independent power producer strategy across California and the Desert Southwest. Avantus has a development pipeline totalling 24 GW of system capacity in those markets, including 13 GW of solar integrated with 44 GWh of energy storage.
Executive vice president of capital markets Omar Karar said the renewed and broadened bank relationships reflected confidence in the company’s ability to execute and its trajectory as an independent power producer. Mercom noted that announced debt financing for the solar sector reached 20.4 billion dollars across 80 deals in the first nine months of 2026, up 61 percent from the same period in 2025.