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    KKR funds a US renewable energy developer

    With the strategic involvement of alternative asset management solutions provider GCM Grosvenor, KKR has led a structured investment in US renewables company Arevia Power.

     

    Arevia’s “accelerated growth and development” of new solar and wind projects across the US will be aided by the funding.

     

    Arevia, a dedicated solar and wind project developer, was established in 2015. It develops, obtains permits for, and oversees the lifecycle of renewable energy projects.

     

    A multi-GW portfolio of early-stage projects around the nation is being advanced by the developer.

     

    The projects are “responsibly sited and aim to meet local and regional energy demand with a focus on mitigating environmental impacts and minimizing impacts to surrounding communities”.

     

    The creators of Arevia, Mark Boyadjian and Ricardo Graf, have created over 2GW of utility-scale solar photovoltaic infrastructure between them.

     

    Arevia has implemented a Responsible Contractor Policy (RCP) for its whole sustainable energy portfolio across the United States in conjunction with the investment.

     

    The RCP encourages the creation of a highly trained workforce that is strongly committed to workplace health and safety, just pay and benefits, and future workforce development.

     

    Boyadjian, Managing Partner at Arevia, said “Now is a critical time for the energy transition, and we are elated by this milestone that gives us the flexible capital needed and the right partners to expand our solar and wind project pipeline throughout the country in a thoughtful way.”

     

    He added: “KKR is an outstanding new strategic partner with deep renewables and infrastructure experience, and GCM Grosvenor is an equally accomplished infrastructure investor who has also been particularly successful in investing in partnership with organised labour groups.

     

    “Together, this platform investment and new relationship with two world-class investment firms will super-charge our development of clean energy solutions while delivering good-paying jobs and leading the way on responsible development.”

     

    As of 31 December 2021, operational power generation capacity from renewable assets including solar and wind will exceed 23GW thanks to investments made by KKR and its subsidiaries since 2011.

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