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 from $1.05 billion.

Helaba, Mitsubishi UFJ Financial Group (MUFG), Norddeutsche Landesbank (NordLB), Santander, and Standard Chartered joined the lending consortium as new lead arrangers.

The expanded facility builds on the $1.05 billion corporate credit facility Avantus closed in August of this year.

Existing lenders include Sumitomo Mitsui Banking Corporation (SMBC), ING Capital, HSBC, KKR, Truist Securities, Bank Hapoalim, Canadian Imperial Bank of Commerce (CIBC), KeyBanc Capital Markets, Mizuho, National Bank of Canada Capital Markets, and Natixis Corporate & Investment Banking.

The company said the additional financing will support its independent power producer strategy across California and the Desert Southwest. Avantus has a development pipeline totaling 24 GW of system capacity in these markets, including 13 GW of solar integrated with 44 GWh of energy storage.

“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. “We look forward to building on these relationships as we advance our solar and storage portfolio and scale our operating platform.”

SMBC is serving as administrative agent, collateral agent, and lead arranger for the facility.

KKR Capital Markets and EIG Capital Markets served as placement agents for the transaction. Kirkland & Ellis served as legal counsel to Avantus, while Milbank represented the lenders.

Announced debt financing for the solar sector reached $20.4 billion across 80 deals, a 61% increase from 9M 2025, when $12.7 billion was raised in 60 deals, according to Mercom’s recently released 9M and Q3 2026 Solar Funding and M&A report.

In July, Nesa Power Group, a South Africa-based commercial and industrial renewable energy company, secured R150 million (~$9 million) in mezzanine debt funding from Maia Capital Partners. Covington & Burling acted as legal counsel to Maia Capital Partners on the transaction.