Ecoplexus Announces Closing of $300 million Credit Facility from KKR to Accelerate Solar and Storage Development

Rhea-AI Summary

Ecoplexus announced closing a $300 million credit facility from capital accounts advised by KKR with a letter of credit facility provided by Sumitomo Mitsui Banking Corporation (SMBC). The facility will fund development across the United States and support advancement of over 13 GW of solar and storage projects and enable more than $2.5 billion of project finance, including construction-ready investments and long-term ownership of strategic assets.

The company and KKR said the capital provides scale and certainty to move several gigawatts to start of construction in the near term and to expand Ecoplexus' utility-scale solar and storage portfolio.

Positive

• $300M credit facility secured
• Financing supports 13+ GW of solar and storage development
• Facility enables over $2.5B of project finance
• Includes SMBC letter of credit facility

Negative

• No stated timeline or milestones for construction starts
• Potential future dilution or funding terms not disclosed

Insights

Energy Finance Expert

Ecoplexus secured a 300 million facility from KKR and SMBC to accelerate >13GW of U.S. solar and storage development.

The capital package provides development liquidity and a letter of credit backstop, enabling project advancement and levering project finance capacity toward roughly 2.5 billion of construction financing. This structure converts sponsor-level capital into near-term construction starts while preserving partnership and long-term ownership optionality.

This outcome depends on pipeline execution, offtake and permitting progress, and standard credit conditions tied to construction milestones. Costs, timing, and any covenants will shape realized leverage and returns, so those elements are material risks to monitor.

Watch the announced GW moved to start of construction in the near term, the mix of projects paired with storage, and how much of the cited 2.5 billion financing translates into completed builds over the next 12–36 months.

NEW YORK, Dec. 1, 2025 /PRNewswire/ -- Ecoplexus announced today that it has closed a $300 million credit facility from capital accounts advised by KKR, a leading global investment firm. The facility includes development capital and a letter of credit facility provided by Sumitomo Mitsui Banking Corporation (SMBC). It will support the advancement of over 13GW of solar and storage projects across the United States.

"This financing marks an important milestone for our business and gives us the certainty and scale required to advance several GW of projects to start of construction in the near term," said John Gorman, Chief Executive Officer of Ecoplexus. "We appreciate the support of KKR and SMBC and value their confidence in our platform."

Ed Campaniello, Senior Vice President of Finance, stated, "Securing this cost-effective capital solution strengthens our U.S. portfolio. This facility will support over $2.5 billion of project finance, including investment partnerships in construction ready projects and the long term ownership of strategic assets."

"We're pleased to finance Ecoplexus and its high-quality, large-scale portfolio of development assets through our Asset-Based Finance strategy," said Sam Mencoff, Director at KKR. "Ecoplexus has shown analytical sophistication, discipline and scale in its approach to development, and we look forward to supporting the company as it continues to expand its solar and storage portfolio in its next phase of growth."

About Ecoplexus

Ecoplexus develops, finances and owns utility scale solar and storage projects in the United States and Japan. Since 2010, Ecoplexus has developed and financed projects across PJM, MISO, ERCOT, WECC, and the Southeast. For more information visit www.ecoplexus.com.

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. 

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SOURCE Ecoplexus Inc.

FAQ

What did Ecoplexus announce about the $300 million credit facility with KKR (KKR) on December 2, 2025?

Ecoplexus closed a $300 million credit facility from capital accounts advised by KKR, including an SMBC letter of credit, to advance U.S. solar and storage projects.

How many gigawatts of projects will the Ecoplexus credit facility support?

The facility is stated to support advancement of over 13 GW of solar and storage projects across the United States.

What level of project finance does the KKR-backed facility enable for Ecoplexus?

Management said the facility will support more than $2.5 billion of project finance, including construction-ready projects and long-term ownership.

Which banks are involved in Ecoplexus' December 2025 financing and what are their roles?

Capital accounts advised by KKR provided the credit facility and Sumitomo Mitsui Banking Corporation (SMBC) provided a letter of credit facility.

What is the near-term operational impact claimed by Ecoplexus from the KKR financing?

Ecoplexus said the financing gives certainty and scale to advance "several GW" of projects to start of construction in the near term.