KKR, a global investment firm, has made a minority investment in Sol Systems LLC, a U.S. renewable energy solutions firm, to scale its impact and infrastructure approach. Sol Systems and KKR formed a strategic partnership in which KKR is committing up to $1 billion to acquire shovel-ready projects, helping fund Sol Systems’ development of contracted renewable energy and storage assets to meet sustainability needs in North America.
Established in 2008, Sol Systems combines renewable energy development, delivery, asset management and environmental commodity management into one infrastructure and impact offering.
“Over the last decade, our guiding principles have been to do good work with good people, and do what’s right for the communities we work in. We bring focus and discipline to delivering on these ideals,” said Yuri Horwitz, Co-Founder and Chief Executive Officer of Sol Systems. “In KKR, we have found an aligned organization and team that was excited to do this work with us, and is committed to accelerating and supporting our approach to investing in sustainable infrastructure with community impact. Looking ahead, we plan to dramatically scale the work we’re doing with our partners as we all transition to a more sustainable, resilient and equitable future.”
“Sol Systems is a market-leading, integrated provider of truly differentiated sustainable energy solutions. Yuri and his team embody an approach to responsible investment that very much aligns with our own, and one that we are proud to be investing behind,” said Tim Short, Managing Director at KKR. “We look forward to helping grow the platform even further in response to the significant demand for thoughtful and customer-driven renewable energy offerings.”
KKR invests in Sol Systems through its Global Infrastructure Investors III fund.