Avantus secures $300 million tax equity commitment from Truist Bank for California solar and battery storage project

Type: Financing · Technology: Solar, Storage · Country: United States · Capacity: 150 MW · Value: $300M · Announced: 2026-08-25

Avantus has closed a $300 million tax equity commitment from Truist Bank for the Aratina 2 solar and battery storage project in Kern County, California. This financing commitment completes the project’s package, following over $525 million in construction financing secured in July 2026 from BBVA, CIBC, and Santander. The Aratina 2 project will combine 150 MW of solar generation with 452 MWh of battery storage and is expected to begin operating by the end of 2026. The facility is supported by 15-year power purchase agreements with Southern California Edison. This deal represents Avantus' second tax equity investment with Truist Bank.

Analysis

Avantus has secured a $300 million tax equity commitment from Truist Bank for the Aratina 2 solar and battery storage project in Kern County, California. This commitment follows over $525 million in construction financing secured in July 2026 from BBVA, CIBC, and Santander. Avantus is a renewable energy company focused on developing large-scale solar and energy storage projects, while BBVA is a global financial services group involved in sustainable business and cleantech initiatives. The Aratina 2 project will combine 150 MW of solar generation with 452 MWh of battery storage and is expected to begin operating by the end of 2026. The facility is supported by 15-year power purchase agreements with Southern California Edison, an electric utility serving 15 million customers across 50,000 square miles.

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