Kitt Solar and Energy Storage — 130 MWdc / 100 MWac solar + 400 MWh BESS, City of Eloy, Pinal County, Arizona
Construction financing includes construction loan, tax equity bridge, and letters of credit. EPC by RES; Fluence Gridstack Pro BESS. APS long-term PPA. Expected COD end of 2026. Legal advisors: White & Case, Fennemore Craig, Akin Gump Strauss, Quarles & Brady.
$300M
Deal Value
100MW
Capacity
400MWh
Storage
Solar + Storage
Technology
AZ
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Avantus (backed by KKR and EIG)
- Buyer / Financier
- BBVA / CIBC New York Branch
- Offtaker
- Arizona Public Service (APS)
- Deal Value
- >$300M
- Stage
- Under Construction
- ISO/RTO
- WECC
- Source
- BusinessWire / Avantus
Capital Structure
$300M
Total transaction value
Tranches
- Construction loan · BBVA / CIBC New York Branch
- —
- Tax equity bridge loan · BBVA / CIBC New York Branch
- —
- Letters of credit · BBVA / CIBC New York Branch
- —
Service Providers
Advisory & Legal
- epc
- RES
- bess
- Fluence
- borrowerCounsel
- White & Case LLP; Fennemore Craig P.C.
- Lender Counsel
- Akin Gump LLP; Quarles & Brady LLP
Finance Counterparties
Lenders & Capital Providers
- constructionLoanLeadArranger
- BBVA
- constructionLoanParticipant
- CIBC New York Branch
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