KKR, a global investment firm, has led a significant structured investment in Arevia Power, a U.S. renewable energy developer. As part of the transaction, GCM Grosvenor participated in the investment.
Arevia focuses on developing dedicated solar and wind projects. The firm originates, permits, and manages renewable energy products through the lifecycle. The investment will work to support the firm’s accelerated growth and development of new solar and wind projects across the country.
“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.” said Mark Boyadjian, managing partner at Arevia. “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 organized labor 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.”
Willkie Farr & Gallagher LLP and Munish Dayal, Arevia’s outside general counsel, served as legal advisors to Arevia Power. Amis, Patel & Brewer LLP served as legal advisor to KKR and Allen & Overy served as legal advisor to GCM Grosvenor.