Copenhagen Infrastructure Partners (CIP) has announced the acquisition of the 255MW / 1,020 MWh Scatter Wash standalone battery storage project located in Phoenix, Arizona.
The purchase, made through CIP’s flagship fund CI V, involves a partnership with Strata Clean Energy, a developer and operator of renewable energy solutions. Strata will continue managing construction and operations for the project.
Tim Evans, Partner and Head of North America at CIP, emphasized the significance of the project in supporting the growing energy needs of the U.S. Southwest.
“Standalone storage will play an important role in addressing the growing energy capacity needs in the U.S. Southwest, enabling the decarbonization of Arizona’s power grid while maintaining reliability,” Tim Evans said.
Strata secured a 20-year tolling agreement with Arizona Public Service (APS), the largest utility provider in Arizona, for the Scatter Wash project in 2023. APS serves 1.4 million customers across 11 of Arizona’s 15 counties.
Markus Wilhelm, CEO of Strata Clean Energy, expressed the company’s commitment to renewable energy, saying, “Our relationship with CIP will give us an unrivaled ability to execute on that commitment for the Scatter Wash project, enabling us to realize the clean energy goals for Arizona customers.”
Construction of the Scatter Wash project began earlier this year, with commercial operations expected by the first half of 2025. Financing was secured in early 2024 through a consortium led by J.P. Morgan, Nomura, and a tax equity investment from U.S. Bancorp.
This project is part of Strata’s broader portfolio, with over 6 GW of solar PV and 24 GWh of battery storage under development, further demonstrating its commitment to advancing clean energy in the U.S.
CIP’s CI V fund, with a target size of EUR 12 billion, is set to become the world’s largest renewable energy fund, investing in diverse renewable technologies across North America, Europe, and Asia-Pacific.