Wafra takes control of solar developer Mission Clean Energy
Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
New York-based global alternative asset manager Wafra Inc has bought a controlling interest in utility-scale renewables and storage developer Mission Clean Energy LLC in a transaction also backed by clean infrastructure investor Aggregate Power Infrastructure LLC (API).
The announcement disclosed neither the exact stake acquired by each party nor the exact investment they made.
Set up in 2022, Mission has aggregated a 3-GW pipeline of solar and battery storage projects across North America. It will use Wafra’s investment to step up the expansion and delivery of these projects.
“We see a significant market opportunity for solar and battery storage infrastructure in the United States as demand for renewable energy continues to grow,” said Edward Tsai, managing director at Wafra. In turn, Max Bakker, Co-Founder and CEO of Mission Clean Energy, commented that “the business case for renewables and storage has never been stronger.”