KKR provides Origis Energy with a $300 million corporate line of credit

KKR AND Origis Energy (“Origis”), a renewable energy and decarbonization solutions platform, announced that vehicles and accounts managed by KKR’s insurance division have secured $300 million in corporate financing object for Origis.

Proceeds from the facility will support the continued development and construction of Origis’ solar and storage pipelines.

S&P Global Commodity Analysis recently ranked Original third on the list of the ten largest owners of planned photovoltaic installations by 2028 since inception Origis has developed over 250 solar and storage projects. In the United States, the company’s portfolio of current operating, contracted and mature development projects totals more than 12 gigawatts (GW) with an additional 13 GW in the pipeline.

“Origis is taking an extraordinary path and focusing on delivering to our customers. We are pleased to partner with KKR in the next phase of our development,” he said Vikas Anand, CEO of Origis.

“Demand for renewable energy financing is greater than ever and we are pleased to support Origis Energy, one of the leading developers in this industry,” he said Sam Mencoff, director of KKR.

This investment is in line with KKR Asset-based finance (ABF) a strategy that focuses on private and negotiated credit investments that are backed by large and diversified pools of financial and fixed assets, offering diversification from traditional corporate credit and attractive risk-adjusted returns.

The ABF KKR platform started investing in 2016 and currently has approx $54 billion in ABF assets under management worldwide under high quality ABF and opportunistic ABF Strategies.