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KKR Acquires Majority Stake in Avantus, Boosting U.S. Solar Growth and Employee Ownership Initiatives.

Global investment firm KKR has signed an agreement to acquire a majority stake in Avantus, marking KKR’s first U.S. investment under its global climate strategy. The deal reflects the rapid growth in solar in the U.K. in 2023, when solar made up over half of new generating capacity for the first time, a 51% increase from 2022. KKR and EIG will be the sole equity investors in the company, following the close of the transaction. The company, which was founded in 2009 by Tom Buttgenbach, plans to develop one of the largest clean energy development pipelines in the country with a project pipeline of 30 GW of solar and 94 GWh of battery storage. Following the transaction, KKR plans to support the company in creating an equity ownership program to allow all employees to participate in the benefits of ownership of the company.

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