Creation of the new Copia Power platform with the acquisition of the Tenaska development pipeline and a strategic partnership with Birch Infrastructure
Washington, DC, Omaha, NE and Portland, OR – Global investment firm Carlyle (NASDAQ: CG) today announced the formation of a new holding company Copia Power (“Copia”), a wholly-owned platform focused on developing sustainable infrastructure at the utility scale in the United States. Copia’s strategy is to partner with established industry leaders with highly specialized skills to develop, own and operate sustainable infrastructure assets. By combining our capabilities with Tenaska, Inc. (“Tenaska”) and Birch Infrastructure (“Birch”), Carlyle plans to deploy up to $ 700 million in capital and organize over $ 6 billion in project funding. to advance the development and construction of assets through the Copia platform.
Copia is led by founding and industry veteran employees Ryan Galeria, Katie Heath (both previously Development Leads at AES Clean Energy) and Arthur Sonnenfeld (previously Strategy and Investments at SB Energy) with the support of board members Directors appointed by Carlyle, Pooja Goyal (Partner and Co-Head of Carlyle’s Infrastructure Group) and David Gluck (Director, Infrastructure and Renewable Energy, Carlyle). Copia executives collectively have decades of experience in renewable energy development and have marketed more than 10 GW of renewable energy assets.
Copia plans to initially focus on developing, owning and operating large-scale renewable energy production through its strategic relationships with Tenaska and Birch. Copia has acquired an approximately 6 GW solar development and storage pipeline in the United States from Tenaska, which will continue to work with Carlyle and Copia to develop the portfolio. Birch has contributed approximately 800 MW of its renewable energy supply contracts and associated development assets and will advance all of its renewable energy development activities through this exclusive partnership with Carlyle and Copia
Tenaska has successfully developed over 11 GW of power generation assets since its inception in 1987. Steve Johnson, Senior Vice President of Tenaska’s Strategic Development and Acquisitions group, said, “Tenaska has a history of success in renewable energies, supported by the in-depth market knowledge of our team. and proven development skills. We are proud to put this expertise to work for Carlyle and its Copia platform as they continue to expand their presence in renewable energy and promote cleaner, more sustainable energy solutions. ‘
Birch Infrastructure was founded in 2019 by CEO Jim Howell, former Director of Development at sPower, and Director of Strategy Kenneth Davies, former Director of Innovation for Energy Strategy and Research at Microsoft. Howell and Davies have partnered to innovate, configure and bring to market renewable energy solutions for large industrial energy consumers, tailored to their specific business needs. Birch will leverage its relationship with Carlyle, Copia and their partners to advance and deploy these flexible renewable supply solutions to make large-scale renewable energy purchasing less risky, more accessible and more manageable.
“Using renewable energy is now a must for every large business as customers, investors and employees all insist on knowing their company’s environmental footprint,” Howell said. “Large energy consumers should be able to control their renewable energy supply with solutions tailored to their needs. A “one size fits all” approach does not work on a large scale. We offer custom solutions configured to meet their sustainability and energy goals, and tailored to mitigate risk, at a firm, fixed price. ‘
Pooja Goyal, Partner and Co-Head of Carlyle’s Infrastructure Group, said: “The formation of Copia Power and the relationship with Tenaska and Birch underscores Carlyle’s continued commitment and focus on finding differentiated investment opportunities. and attractive that will stimulate the energy transition. We are confident that the combination of leading and proven management teams such as Tenaska and Birch, along with the scale and capabilities of our platform at Carlyle, allow us to generate significant growth and accelerate the development of sustainable infrastructure at the utility scale in the United States. ‘
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Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital in three business segments: Global Private Equity, Global Credit and Investment Solutions. With $ 260 billion in assets under management as of March 31, 2021, Carlyle’s goal is to invest wisely and create value on behalf of its investors, the companies in its portfolio and the communities in which we live. and let’s invest. Carlyle employs more than 1,800 people in 29 offices across six continents. More information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Copia Power
A large-scale renewable energy infrastructure platform in the United States, 100% owned by Carlyle, which will partner with developers and large energy users to accelerate the energy transition. More information available on www.copiapower.com
About Tenaska, Inc.
Tenaska is one of the leading independent energy companies in the United States, renowned for its high standards and expertise in the marketing of natural gas and electricity, energy management, and the development and acquisition of energy assets and the operation of production facilities. Forbes magazine regularly ranks Tenaska among the 50 largest private companies in the United States. Gross operating revenue was $ 7.7 billion in 2020.
Tenaska is one of the Best Managed Companies in the United States for 2021, an award from Deloitte Private and the Wall Street Journal to private companies that demonstrate excellence in strategic planning and execution, corporate culture business and financial results.
Tenaska has developed, managed and / or operated approximately 22 gigawatts (GW) of natural gas and renewable energy generation. Its development portfolios include more than 16 GW of solar, wind and energy storage projects. The current Tenaska fleet in operation includes 7.5 GW of production facilities.
More information is available at www.tenaska.com. Connect with Tenaska on LinkedIn and Facebook.
About Birch Infrastructure
Birch partners with the entire energy infrastructure ecosystem to configure, underwrite, invest and deliver customized renewable energy solutions that enable high impact, low cost outcomes for the world’s largest energy consumers. world. Birch Infrastructure is organized as a member-owned public interest limited liability company (‘PBLLC’), which requires it to produce a public benefit by operating in a responsible and sustainable manner. Birch’s areas of public interest focus on employee well-being, the promotion of sustainable infrastructure practices, and rural economic development. Its commitment to these values fuels its innovation, impact and shared prosperity. Limited information is available on www.bouleau.coop
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The Carlyle LP group published this content on July 21, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on July 20, 2021 07:27:33 PM UTC.