KKR has led a significant structured investment in Arevia Power (Arevia), a US renewable energy developer, with strategic participation by GCM Grosvenor, a global alternative asset management solutions provider.
The investment will support the Company’s accelerated growth and development of new solar and wind projects throughout the United States.
Founded in 2015, Arevia is a dedicated solar and wind project developer that originates, permits, and manages renewable energy projects through their lifecycle. Currently, Arevia is advancing a multi-gigawatt (GW) portfolio of early-stage projects across the country. Arevia’s projects are responsibly sited and aim to meet local and regional energy demand with a focus on mitigating environmental impacts and minimizing impacts to surrounding communities. Arevia’s founders, industry veterans Mark Boyadjian and Ricardo Graf, have a demonstrated track record of success, having fully developed over 2 GW of utility-scale solar photovoltaic infrastructure.
In tandem with the investment, Arevia has executed a Responsible Contractor Policy (RCP) for its entire clean energy portfolio throughout the United States. The RCP actively promotes a highly skilled workforce with a strong commitment to health and safety on the job, fair wages, and benefits, and future workforce development.
Willkie Farr & Gallagher LLP and Munish Dayal, Arevia’s outside general counsel, served as legal advisors to Arevia Power. Amis, Patel & Brewer LLP served as legal advisor to KKR and Allen & Overy served as legal advisor to GCM Grosvenor.
