Overview
- Aratina 1, which reached commercial operation on Tuesday, is now exporting 200 MW of solar power paired with 500 MWh of battery storage to the California grid under long‑term PPAs with Central Coast Community Energy and Silicon Valley Clean Energy.
- The projects’ contracted output is enough to serve about 105,000 homes annually and includes a 120 MW commitment to 3CE that the parties say will support local grid reliability.
- Financing for Aratina 1 exceeded $500 million from a lender consortium led by Sumitomo Mitsui, Truist Securities, ING Capital and Mizuho and includes a $300 million tax‑equity commitment from Truist Bank.
- Avantus will retain a controlling stake and operate Aratina 1 as it builds an IPP portfolio, while adjacent Aratina 2 has closed more than $525 million in financing, is under construction, and is targeting commercial operation before the end of 2026.
- The build delivered about 500 peak construction jobs, will create ongoing local operations roles, and Avantus has launched a Boron Community Partnership Panel to guide local investments as part of broader CCA-driven procurement and developer-to-IPP market trends.