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Printed Sep 24, 2024 • 3 minute learn
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NEW YORK and PHOENIX, Sept. 24, 2024 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Companions (“CIP”), by means of its flagship fund, CI V, and Strata Clear Power (Strata), a number one developer, proprietor, and operator of renewable vitality, introduced that CIP will purchase the 255MW / 1,020 MWh Scatter Wash standalone battery storage undertaking in Phoenix, Arizona. Strata will proceed to function development and asset supervisor for the undertaking.
“Standalone storage will play an essential position in addressing the quickly rising vitality capability wants within the U.S. Southwest, enabling the decarbonization of Arizona’s energy grid whereas sustaining reliability,” stated Tim Evans, Companion and Head of North America at CIP. “CIP has a powerful monitor document of creating, proudly owning, and working renewable vitality tasks throughout the USA, and we’re delighted to have partnered with Strata on the transaction.”
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Strata Clear Power secured a 20-year tolling settlement for the Scatter Wash undertaking with Arizona Public Service (APS) in 2023. APS is the most important electrical utility in Arizona, serving roughly 1.4 million properties and companies in 11 of the state’s 15 counties.
“Strata is dedicated to creating options that meet or exceed our companions’ objectives by offering dependable entry to renewable vitality at aggressive costs,” stated Markus Wilhelm, Chief Government Officer of Strata Clear Power. “Our relationship with CIP will give us an unmatched potential to execute on that dedication for the Scatter Wash undertaking, enabling us to understand the clear vitality objectives for Arizona clients.”
Scatter Wash commenced development earlier this 12 months and is scheduled to achieve industrial operations within the first half of 2025. The undertaking secured financing in February 2024 from a consortium of lenders, led by J.P. Morgan and Nomura and included a tax fairness dedication from U.S. Bancorp.
Strata, which maintains its western headquarters in Phoenix, Arizona, has over 6 GW of photo voltaic PV and 24 GWh of battery storage tasks below improvement, of which 1 GW of PV and 6 GWh of battery storage are within the APS territory, underscoring the continuing dedication between Strata and APS to supply dependable, clear electrical energy to the fast-growing area.
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With a goal measurement of EUR 12bn, CIP’s fifth flagship fund, CI V, is ready to develop into the most important of its variety globally. The fund goals to put money into a spread of renewable applied sciences from wind and photo voltaic PV to vitality storage throughout Europe, North America, and Asia Pacific.
About Copenhagen Infrastructure Companions
Based in 2012, Copenhagen Infrastructure Companions P/S (CIP) is the world’s largest devoted fund supervisor inside greenfield renewable vitality investments. The funds managed by CIP concentrate on investments in offshore and onshore wind, photo voltaic PV, biomass and energy-from-waste, transmission and distribution, reserve capability, storage, superior bioenergy, and Energy-to-X.
CIP manages 12 funds and has to this point raised roughly EUR 31 billion for investments in clear vitality and related infrastructure from greater than 180 institutional traders globally. CIP has roughly 500 staff and 14 places of work all over the world. For extra info, go to www.cip.com
About Strata Clear Power
Strata Clear Power, LLC, and its associates (collectively “Strata”) are a vertically built-in photo voltaic and storage improvement, engineering, procurement, and development (EPC) and operations & upkeep (O&M) firm. Strata has deep utility expertise with greater than 170 tasks in operation, over 6 GW of PV photo voltaic and 24 GWh of battery storage in improvement, and 4.7 GW below administration throughout the USA. Strata is targeted on delivering best-in-class price of possession by imposing industry-leading high quality assurance requirements on our international producers and suppliers, decreasing threat, rising effectivity, and maximizing cost-competitiveness for our clients. Be taught extra about our firm by visiting our web site at http://www.stratacleanenergy.com. For extra info, www.stratacleanenergy.com
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