Avantus
| Company type | Private |
|---|---|
| Industry | Solar energy |
| Founded | 2009 |
| Founder | Tom Buttgenbach, Martin Hermann |
| Fate | Acquired by KKR in 2024 |
| Headquarters | United States |
| Products | Photovoltaic solar power plants, energy storage solutions |
| Owner | KKR (since 2024) |
Avantus, previously known as 8minute Solar Energy, is a U.S.-based company specializing in the development of large-scale photovoltaic (PV) solar power plants and energy storage solutions. Established in 2009 by Tom Buttgenbach and Martin Hermann, the firm was acquired by the private equity group KKR in 2024.
History
The Redwood Solar Farm received approval from the Kern County Board in 2014, supported by a $30 million capital injection from Macquarie Capital. By 2018, Avantus secured $200 million through a joint venture partnership with J.P. Morgan Asset Management and Upper Bay Infrastructure Partners to expand its utility-scale solar project portfolio.
In 2019, the company finalized a 25-year power purchase agreement with the Los Angeles Department of Water and Power. That same year, in July, Avantus completed the sale of its inaugural Texas development, Holstein Solar—featuring approximately 709,000 solar panels spread across 1,300 acres—to Duke Energy.
Early in 2020, further funding was obtained from the University of California system along with J.P. Morgan Asset Management and Upper Bay Infrastructure Partners to support ongoing project development. Although the University of California filed a lawsuit against Avantus in 2022, the company still managed to raise $400 million in financing from institutional investor EIG during that year.
In March 2024, two years after adopting the Avantus name, KKR acquired a controlling interest in the company for an undisclosed amount, finalizing the transaction three months later.
Developments
Among its significant projects is the Eagle Shadow Mountain Solar Farm, a photovoltaic facility with a capacity of 420 MWp (300 MWAC) located north of Las Vegas, Clark County, Nevada. The Mount Signal Solar installation is a 594 MWp (460 MWAC) photovoltaic power plant situated west of Calexico, California. Furthermore, Avantus developed both the 137 MW Springbok Solar Farm and the 191 MW Springbok 2 solar project within Kern County, California.