KKR buys US renewables developer

• Investment will certainly support Arevia's 'sped up development and also advancement' of new solar as well as wind projects

KKR has actually led a structured investment in US renewables designer Arevia Power, with calculated engagement by GCM Grosvenor, an alternative asset management options service provider.

The investment will certainly support Arevia's "sped up growth and development" of new solar and wind projects throughout the United States.

Founded in 2015, Arevia is a committed solar as well as wind project developer that comes from, allows, as well as manages renewable resource projects through their lifecycle.

The programmer is progressing a multi-GW portfolio of early-stage projects across the country.

The projects are "responsibly sited and also aim to satisfy neighborhood and also regional energy demand with a concentrate on mitigating environmental impacts as well as decreasing effects to bordering neighborhoods".

Arevia's owners, Mark Boyadjian and also Ricardo Graf, have, in between them, created over 2GW of utility scale solar photovoltaic infrastructure.

In tandem with the investment, Arevia has executed a Responsible Contractor Policy (RCP) for its entire clean power portfolio throughout the USA.

The RCP advertises an extremely skilled workforce with a solid dedication to health and wellness on the job, reasonable wages, and benefits, as well as future workforce advancement.

" Currently is an essential time for the power transition, and also we are elated by this landmark that gives us the flexible capital needed as well as the right partners to broaden our solar as well as wind project pipeline throughout the nation in a thoughtful method." claimed Boyadjian, Managing Partner at Arevia.

He added: "KKR is an exceptional new calculated partner with deep renewables and infrastructure experience, and GCM Grosvenor is a similarly completed infrastructure capitalist who has additionally been especially successful in buying partnership with organised labour teams.

" Together, this platform investment and also new partnership with two world-class investment company will super-charge our growth of clean power remedies while providing good-paying jobs as well as blazing a trail on responsible development."

Since 2011, KKR and also its subsidiaries have actually deployed over $15bn in equity to invest in renewable assets, such as solar and wind, which have a functional power generation capacity of over 23GW, since 31 December 2021.