Avantus brings Aratina 1 solar-plus-storage project online in California
The 500-MWh storage asset is backed by long-term offtake agreements with Central Coast Community Energy and Silicon Valley Clean Energy, supported by a $500 million lending consortium and $300 million in tax equity from Truist Bank.
Renewable energy developer Avantus has brought its Aratina 1 solar-plus-storage facility to commercial operation in Kern County, California. The 200-megawatt (MW) solar and 500-megawatt-hour (MWh) storage installation marks a significant operational milestone for the company as it transitions from a developer to an independent power producer (IPP).
Avantus will hold a controlling stake in the asset and oversee its operations. The facility is secured by long-term power purchase agreements with Central Coast Community Energy (3CE) and Silicon Valley Clean Energy (SVCE), two community choice aggregators in the state. These contracts provide the revenue stability required to support the project’s capital structure.
The project was financed by a consortium of lenders including Sumitomo Mitsui Banking Corp., Truist Securities, ING Capital, and Mizuho, which provided more than $500 million in debt financing. Additionally, the project secured a $300 million tax equity commitment from Truist Bank. Peak construction activity generated approximately 500 jobs in the region.
Avantus Chief Executive Officer Cliff Graham described the commercial operation of Aratina 1 as a major milestone for the company’s new IPP model. He cited the expertise of the development and construction teams, along with the trust placed in the company by financing partners and community choice aggregators, as the foundation for its long-term strategy.
Robert Shaw, CEO of 3CE, highlighted the project as an example of how community choice energy frameworks translate climate goals into tangible infrastructure. The aggregator has committed to purchasing 120 MW of power from the facility, aiming to deliver clean, affordable energy while supporting grid reliability and California’s transition away from fossil fuels.
Avantus is backed by strategic investment from private equity firms KKR and EIG. The company is already advancing the next phase of its portfolio, with Aratina 2 currently under construction. This second phase has closed more than $525 million in financing and targets commercial operation before the end of the year. Upon completion, the broader Aratina Solar Center will comprise 350 MW of solar capacity and 952 MWh of storage.
The company is also expanding its footprint in Tulare County with the Rexford 2 project. Avantus has signed a 20-year power purchase agreement with the Clean Power Alliance for 200 MW of solar paired with an 800-MWh battery storage system. Construction on Rexford 2 is expected to begin near year-end, with the facility scheduled to come online in 2028.
