Financing accelerates development of new solar and wind projects in the United States
KKR, a leading global investment firm, today announced that KKR has led a significant structured investment in Arevia Power (“Arevia” or the “Company”), a U.S. renewable energy developer, with strategic participation by GCM Grosvenor, a leading global alternative asset management solutions provider. The investment will support the Company’s accelerated growth and development of new solar and wind projects throughout the United States.
In tandem with the investment, Arevia has executed a Responsible Contractor Policy (“RCP”) for its entire clean energy portfolio throughout the United States. The RCP actively promotes a highly skilled workforce with a strong commitment to health and safety on the job, fair wages, and benefits, and future workforce development.
Since 2011, KKR and its subsidiaries have deployed over $15 billion in equity to invest in renewable assets, such as solar and wind, which have an operational power generation capacity of over 23 GW, as of December 31, 2021. KKR is making its investment in Arevia from its managed insurance accounts. The investment from GCM Grosvenor will come from its infrastructure practice.
Read more: Business Wire
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