US-based clean energy company Avantus has completed a financing round worth over $525m for the construction of the Aratina 2 solar and battery storage project in eastern Kern County, California.
The package was arranged with CIBC, BBVA and Santander, and comprises construction funding, a tax equity bridge loan and letters of credit.
Aratina 2 is expected to begin operations by the end of 2026.
Once operational, Aratina 2 is set to provide 150MW alternating current (MWac) of solar power generation and 452MW-hours (MWh) of battery storage to the California energy grid.
The project is currently under construction and has entered into 15-year power purchase agreements (PPA) with Southern California Edison.
The package was arranged with CIBC, BBVA and Santander, and comprises construction funding, a tax equity bridge loan and letters of credit.
Aratina 2 is expected to begin operations by the end of 2026.
Once operational, Aratina 2 is set to provide 150MW alternating current (MWac) of solar power generation and 452MW-hours (MWh) of battery storage to the California energy grid.
The project is currently under construction and has entered into 15-year power purchase agreements (PPA) with Southern California Edison.
3 months ago
