Renewable energy infrastructure continues to grow in California, partially due to the vast amount of sunlight the state receives annually. The state has recognized this potential and is beginning to realize it. In May 2022, the state produced enough clean energy to meet 103% of consumer demand in the area. Whilst this represents the progress the state has made, it is clear further investments are required to accelerate the growth of renewable energy infrastructure in the state.
1) Adapture Renewables Inc. (California, United States)
Adapture Renewables is a Californian solar developer and investor with a proven track record of developing solar projects at every stage of development. Founded in 2011, the firm has undergone significant expansion since 2019 when a majority interest in the company was acquired by the KIRKBI Group. To date, the group has developed 36 projects located across the United States with an installed capacity of 242MW.
2) Eolian Energy (California, United States)
Since its establishment in 2005, Eolian has become one of the leading US investors in green infrastructure projects. The Californian-based firm prides itself on acquiring projects with a view to long-term value and developing partnerships for over 30 years. Since its inception, Eolian Energy has invested in the development of over 21GW of green energy projects. Eolian is a portfolio company of Global Infrastructure Partners (GIP), which has over $87bn of assets under management and is one of the leading global infrastructure investment firms. In March 2023, the firm completed a 200MW battery storage facility in Texas alongside Wartsila which will become the world’s largest merchant battery system.
3) Blue Path Finance (California, United States)
Blue Path Finance is a specialist investor in sustainable infrastructure projects and exclusively targets projects that will promote sustainability. To date, their projects have avoided 1.5bn pounds of coal being burnt and 3m barrels of oil being consumed. The California-based firm has a proven track record supporting solar projects and overall, their investments have generated an average of 56, 6657MW each year. BluePath partners with green energy infrastructure developers via a host of financing options such as PPAs, tax-exempt and taxable debt, operating leases, sale-of-receivables, and energy-as-a-service. Besides solar projects, the group has also invested in battery and EV charging infrastructure projects.
Image Source: Anna Jimenez Calaf (18.04.2023)
