David Flory has been named Chief Financial Officer of Avantus, a leading U.S. developer of utility-scale solar and solar-plus-storage projects. As the business expands its robust operational asset portfolio and growth pipeline, Flory will be in charge of the financial strategy.
“As we evolve from a pure developer of solar and storage to a project owner and operator, we are lucky to have an experienced and dedicated practitioner like David guiding our journey,” said Cliff Graham, Chief Executive Officer at Avantus. “David brings a depth of expertise across all aspects of corporate and project financing that will prove invaluable to our next phase of growth.”
Flory has almost 30 years of energy finance expertise, including M&A, private equity, and corporate and project finance. At Sonnedix, where he most recently held the position of Executive Vice President and Global Head of Project Finance, he oversaw the financing of over $10 billion in solar projects in the United States, Chile, Europe, and Japan. At AES Corporation, Flory has served in a number of high-level leadership positions, including Vice President of Project Finance for Silver Ridge Power, the company’s solar division.
“With a mature pipeline in high-value markets, strong investor support and clear leadership under Cliff, Avantus is uniquely positioned to meet surging demand for clean, reliable and affordable energy,” said Flory. “I’m excited to work alongside such an impressive and mission-driven team to scale the business and bring more projects online in the months and years to come.”
Flory’s appointment builds on recent momentum at Avantus, following a series of recent milestones including a majority equity investment from KKR, the appointment of CEO Cliff Graham and the addition of Venkatesh Inti as Chief Development Officer. With approximately 30 gigawatts of solar and 94 gigawatt-hours of energy storage under development across California and the Southwest, Avantus is advancing one of the largest clean energy portfolios in the country.
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