Avantus, a U.S. developer, owner, and operator of utility-scale solar and energy storage projects, has closed a $300 million tax equity commitment from Truist Bank for the Aratina 2 solar and battery storage project in Kern County, California.

The commitment follows more than $525 million in construction financing secured in July 2026 from BBVA, Canadian Imperial Bank of Commerce, and Santander. The financing package includes construction funding, a tax equity bridge loan, and letters of credit.

Aratina 2 is under construction in eastern Kern County and is expected to begin operations by the end of 2026. The project will have 150 MW of solar generation capacity and 452 MWh of battery storage capacity. The project has 15-year power purchase agreements with Southern California Edison.

White & Case served as legal counsel to Avantus for the Aratina 2 tax equity transaction. Milbank served as legal counsel to Truist.

Avantus plans to retain a controlling stake in Aratina 2 and operate and maintain the project as an independent power producer. Aratina 2 is the second phase of the Aratina Solar Center. Together, Aratina 1 and Aratina 2 will have 350 MW of solar capacity and 952 MWh of battery storage capacity. Aratina 1 began commercial operations in July of this year.

Avantus expects to bring 788 MW of solar and energy storage capacity online by the end of 2026. The company also has an additional 800 MW under construction and a development pipeline of more than 24 GW of solar and energy storage projects.

The company recently secured an upsized $1.05 billion corporate credit facility to support its activities in California and the Desert Southwest.

In March 2026, the company secured a financing package of more than $300 million with Banco Bilbao Vizcaya Argentaria and Canadian Imperial Bank of Commerce, New York Branch for the Kitt solar and energy storage project.

Avantus also signed a 20-year power purchase agreement for the Rexford 2 project in Tulare County, California. The project is planned with 200 MW of solar capacity and 800 MWh of battery storage.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&A report.