FOR IMMEDIATE RELEASE
May 11, 2015
Responding to urgent needs of cities, utilities, and utility customers, New York-based independent private equity investment firm Stonepeak Infrastructure Partners and California- based energy infrastructure development company IE have formed a project financing platform for IE’s current and future power grid modernization projects in North America.
Infrastructure Energy is working closely with cities and utilities to respond to their urgent power grid modernization needs by developing utility distribution microgrid (UDM) and related projects that provide communities clean, reliable and climate-resilient power. Stonepeak has committed to contribute up to $250 million in project equity to the new financing platform.
Stonepeak Senior Managing Director Luke Taylor commented: “We believe IE distinguishes itself with its clear vision for the future of public energy infrastructure, innovative business model to upgrade and modernize the power grid, and top-notch interdisciplinary team necessary to deliver on the promise of that vision. We could not be more pleased to partner with Infrastructure Energy in this new venture.”
Infrastructure Energy founder and CEO Glen Martin responded: “IE’s mission is to help cities accelerate the transition to the future. I am delighted that the formation of IE Infrastructure will provide IE access not only to the capital it needs to support that mission, but also to the exceptional capabilities of the Stonepeak team.”
Infrastructure Energy assists public and investor-owned energy utilities with the design, build, operation and financing of complex power grid modernization projects. Its utility distribution microgrid (UDM) and related projects enable the large-scale integration of distributed generation and storage assets, such as wind, biomass, solar PV, and electric vehicles (EVs), and help cities and utilities deliver clean, reliable and climate-resilient power.
Infrastructure Energy’s innovative project development process includes cost/benefit analysis, regulatory and contractual support, selection of technology partners, public-private project financing, and customer engagement support.
Stonepeak Infrastructure Partners is an independent private equity investment firm that manages $1.7 billion and specializes in North American middle-market infrastructure. Stonepeak invests in businesses comprised of hard assets with strategic importance, primarily in the following sectors: Energy, power and renewables, transportation, utilities, water, and communications.
For more information, please visit www.stonepeakpartners.com
For more information about Infrastructure Energy, please contact Ariel Wisch-Schute