KKR and Origis Energy (“Origis”), a renewable energy and decarbonization solution platform, 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.
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.
