US independent power producers (IPPs) Swift Current Energy and Avantus have secured financing for their pipelines and projects, respectively.
Both items below come from our colleagues at PV Tech. Solar Media’s solar PV technology site has covered over US$2 billion in solar and solar-adjacent finance deals, including energy storage, in August 2026 alone.
Swift Current raises US$750 million for ‘reliable, clean energy projects’
US independent power producer (IPP) Swift Current Energy has secured a US$750 million credit facility to support what it called “reliable, clean energy projects” in the US.
The corporate credit facility came from a group of banks led by Credit Agricole CIB, ING Capital and Truist Securities. It contains an accordion option to increase its value by a further US$250 million, reaching US$1 billion of accessible credit.
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Swift Current Energy said that the funding, which is a dual-tranche facility with a three-year term, will enable it to develop, operate and commercialise clean energy projects in the US to meet “rapidly growing electricity demand”. The company did not specify the technology of the projects that the funds will support, though it has previously secured funds from Credit Agricole for its 122MW Three Rivers solar project in Maine.
“This transaction reflects the continued maturation of the renewable energy sector, where scaled platforms increasingly require flexible corporate capital alongside project-level financing,” said Sven Wellock, head of renewables and power, energy, Americas at ING Capital.
Michael Arndt, chief executive officer of Swift Current, said: “The scale of this facility reflects both the strength of the portfolio Swift Current has built and the opportunity ahead of us. Electricity demand is growing rapidly across the United States and meeting that demand will require significant investment in new energy infrastructure.”
Read the full version of this story on PV Tech, where it first appeared on 21 August 2026.
Avantus raises US$300 million tax equity for California hybrid resources project
US independent power producer (IPP) Avantus has closed US$300 million in tax equity for a 150MW/452MWh solar-plus-storage project in California.
The funds, delivered by Truist Bank, will support the Aratina 2 solar-plus-storage project in Kern County, California, which is currently under construction and expected to be operational by the end of 2026.
Michael Joh, senior vice president, project finance at Avantus, said the tax equity was “the final piece of financing Aratina 2 needs to complete construction and enter our operating portfolio later this year.”
The project has a 15-year power purchase agreement (PPA) in place with power utility Southern California Edison.
Kern County in Southern California is home to a lot of large, utility-scale solar and energy storage projects. As well as Avantus’ presence, the county—which spans the southern end of California’s Central Valley—hosts developments from Idemitsu Renewables, Origis Energy and the Younan Company.
The US$300 million adds to the roughly US$525 million that Avantus secured in construction financing for the Aratina 2 project, led by BBVA. Once operational, the second phase of Aratina will bring the total capacity of the site to 350MW of solar PV and 952MWh of energy storage, building on the Aratins 1 project that entered commercial operations last month.
The company, which is majority-owned by institutional investor KKR, said it is on track to bring 788MW of solar and energy storage online by the end of this year, out of its total development pipeline of 24GW. Earlier this month, Avantus closed a US$1 billion credit facility to support the development of that pipeline.
As well as California, Avantus has advanced solar, energy storage and co-located projects across most of the major US state markets for renewables. It inked a PPA for a 100MW/400MWh solar-plus-storage project in Arizona in late 2024, and completed construction at a 159MW solar PV project in Texas earlier this year.
This story was first published by PV Tech, 25 August 2026.
