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Avantus
PV power plants manufacturer From Wikipedia, the free encyclopedia
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Avantus, formerly known as 8minute Solar Energy, is an American photovoltaic (PV) developer of utility-scale PV power plants and energy storage. Founded in 2009 by Tom Buttgenbach and Martin Hermann,[1] it was acquired by KKR fifteen years later.[2]
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History
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In 2014, Kern County Board of Supervisors approved development of Redwood Solar Farm which received investment of $30 million by Macquarie Capital.[3][4][5] In 2018, it had raised $200 million through a joint venture with J.P. Morgan Asset Management and Upper Bay Infrastructure Partners for its pipeline of utility-scale solar projects.[6][7]
A 25 year pact was signed with Los Angeles Department of Water and Power in 2019.[8]
In July 2019, the company sold its Holstein solar project to Duke Energy.[9][10] The Holstein project was the company's first completed development in Texas, with approximately 709,000 solar panels on 1,300 acres in Wingate, Texas.[11]
In early 2020, 8minute Solar Energy received investments from the University of California system, J.P. Morgan Asset Management and Upper Bay Infrastructure Partners to fund development of solar projects.[12] In 2022, the same year that the University of California filed a lawsuit against the firm,[13] 8minute Solar Energy announced they had secured $400 million in financing from institutional investor EIG.[14][15]
In March 2024, two years after being rebranded as Avantus,[16][17][18] it was announced a majority stake in the company had been acquired by the US private equity company KKR for an undisclosed amount.[19] The acquisition was completed three months later.
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Developments
It has developed solar farms that includes Eagle Shadow Mountain Solar Farm which is a 420 MWp (300 MWAC) photovoltaic power station north of Las Vegas, Clark County, Nevada.[20][21] Mount Signal Solar which is a 594 MWp (460 MWAC) photovoltaic power station west of Calexico, California,[22][23][24] a 137 MW Springbok Solar Farm and the 191 MW Springbok 2 solar project, both located in Kern County, California.[25][26]
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