Market update · United States · Solar-plus-storage finance
Avantus bags US$300 million for 150MW California solar, energy storage site
Avantus has closed US$300 million in tax equity for the 150 MW/452 MWh Aratina 2 solar-plus-storage project in California. The financing completes the project’s stated funding package while construction continues toward end-2026 operation.
SolTraCo market update · · 3 min readThe financing
Avantus closed US$300 million in tax equity from Truist Bank for Aratina 2 in Kern County, California. The project combines 150 MW of solar generation with 452 MWh of energy storage and is under construction.
Avantus said the tax-equity commitment is the final financing component needed to complete construction and bring the project into its operating portfolio. The company expects operation by the end of 2026.
Contract and wider site
Aratina 2 has a 15-year power purchase agreement with Southern California Edison. The tax equity follows roughly US$525 million of construction financing led by BBVA.
When the second phase is operating, the combined Aratina site is expected to reach 350 MW of solar and 952 MWh of energy storage. The first phase entered commercial operation in July 2026.
Commercial signal
The transaction shows how a utility-scale solar-plus-storage project moves through separate contracting, construction-finance and tax-equity steps. For suppliers, equipment demand is actionable only when specifications, delivery timing, project contracts and financing milestones align.
Sources
This update is an original SolTraCo synthesis of the linked industry sources. Reported facts and commercial interpretation are kept separate. It does not contain confidential deal information and is not investment, legal or technical advice.