KKR Provides $300 Million Corporate Credit Facility to Origis Energy
May 20 2024 - 6:00AM
Business Wire
KKR, a leading global investment firm and Origis Energy
(“Origis”), a leading renewable energy and decarbonization solution
platform, today announced that vehicles and accounts managed by
KKR’s insurance business have provided a $300 million corporate
financing facility to Origis. Proceeds from the facility will
support the continued development and construction of Origis’
pipeline of solar and storage projects.
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S&P Global Commodity Insights recently ranked Origis third
on its list of ten largest owners of planned solar installations
through 2028. Since inception, Origis has developed more than 250
solar and storage projects. In the U.S., the company’s current
operating, contracted and mature development project portfolio
stands at more than 12 gigawatts (GW), with an additional 13 GW in
the pipeline.
“We are on a remarkable trajectory at Origis and focused on
delivering for our customers. We are pleased to be working with KKR
in this next phase of our growth,” said Vikas Anand, CEO of
Origis.
“Demand for renewable energy financing is stronger than ever and
we are pleased to support Origis Energy, one of the leading
developers in this space,” said Sam Mencoff, Director at KKR.
This investment aligns with KKR’s Asset-Based Finance (ABF)
strategy, which focuses on privately originated and negotiated
credit investments that are backed by large and diversified pools
of financial and hard assets, offering diversification to
traditional corporate credit and attractive risk-adjusted returns.
KKR’s ABF platform began investing in 2016 and now has
approximately $54 billion in ABF assets under management globally
across its High-Grade ABF and Opportunistic ABF strategies.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Origis Energy
Origis Energy is accelerating the transition to a carbon-free
future by Reimagining Zero sm. As one of America’s leading
renewable energy and decarbonization solution platforms, the
company continues to expand and reimagine its contribution to the
world’s net-zero goals. Origis Energy puts customers first to
deploy a wide range of sustainable solutions for grid and
distributed power generation, clean hydrogen and long-term
operation of solar, energy storage and clean hydrogen plants across
the U.S. Founded in 2008, Origis Energy is headquartered in Miami,
FL. Learn more at Origis Energy.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520357924/en/
Media: KKR: Julia Kosygina +1 212-750-8300 Media@kkr.com
Origis Energy: Kerri Case 786.376.7596 media@origisenergy.com
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