Avantus shifts to independent power producer as California solar plant goes live
Renewable energy developer Avantus has officially transitioned into an independent power producer with the commercial launch of its $800 million Aratina 1 solar-plus-storage facility in California, securing long-term municipal contracts that highlight strong institutional appetite for grid-scale clean energy.
Renewable energy developer Avantus has begun commercial operations at its Aratina 1 solar-plus-storage installation in Kern County, California. The 200-MW solar and 500-MWh battery facility marks a strategic pivot for the company, which will hold a controlling stake and manage the site. Avantus announced on July 20 that operating its own assets is central to its expansion from a traditional developer into an independent power producer (IPP).
The project is underpinned by a robust capital stack totaling more than $800 million. A lending syndicate featuring Sumitomo Mitsui Banking Corp., Truist Securities, ING Capital, and Mizuho provided over $500 million in debt financing. Truist Bank additionally secured a $300 million tax equity commitment for the Kern County site, which created 500 jobs at the peak of construction. Avantus is financially backed by private equity firms KKR and EIG.
Offtaker agreements stabilize revenues
The installation guarantees long-term cash flows through power purchase agreements with two community choice aggregators. Central Coast Community Energy (3CE) has locked in 120 MW of generation capacity, while Silicon Valley Clean Energy (SVCE) contracted the remainder. "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.
Rapid pipeline expansion
Avantus is moving quickly to scale its operational portfolio. The adjacent Aratina 2 project recently closed more than $525 million in financing and is expected to achieve commercial operations before the end of the year. Once finished, the combined Aratina Solar Center will deliver 350 MW of solar capacity paired with 952 MWh of energy storage.
The company is also advancing the 200-MW Rexford 2 solar and 800-MWh storage project in Tulare County following a 20-year PPA signed with Clean Power Alliance in July. Construction on Rexford 2 is slated to begin late this year, with the facility anticipated to come online in 2028. These projects, alongside a separate $300 million financing package secured for an Arizona site earlier this year, demonstrate the continued velocity of Avantus’s growth strategy.
