05:17 PM EDT, 03/20/2024 (MT Newswires) -- KKR (KKR) said late Wednesday it has agreed to buy a majority stake in Avantus, a US developer of solar and energy storage projects.

After the deal closes, KKR and existing investor EIG will be the sole equity investors in Avantus, KKR said.

The equity sponsors have secured commitments for a development financing facility together with their equity commitments to Avantus, representing over $1 billion in total, KKR added.

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