Global investment firm KKR has picked US renewable energy company Origis Energy as the recipient of its $300 million corporate financing facility. Origis plans to deploy the proceeds to advance its current pipeline of solar and storage projects in the country.
The US clean energy company touts its current operational, contracted and mature development portfolio in the US as exceeding 12 GW. It also counts an additional 13 GW in the pipeline.
KKR funds will enable Origis to continue the development and construction of its pipeline.
The investment firm has shelled out this facility as part of its asset-based finance (ABF) strategy that focuses on privately originated and negotiated credit investments. It says these investments are backed by large and diversified pools of financial and hard assets. KKR's ABF platform has close to $54 billion in assets under management globally since its launch in 2016.
"Demand for renewable energy financing is stronger than ever and we are pleased to support Origis Energy, one of the leading developers in this space," said KKR Director Sam Mencoff.
In March 2024, KKR made its maiden US investment under its Global Climate Strategy by acquiring a majority stake in Avantus (see KKR To Acquire Majority Stake In US Solar & Storage Developer).
Recently, Origis secured $136 million construction facility from MUFG for its 75 MW Rice Creek Solar Project (see North America Solar PV News Snippets).