AIP Management, a Danish investment manager dedicated to investing in energy and infrastructure assets in Europe and the United States, has acquired a 60 percent equity stake in a portfolio consisting of two colocated solar photovoltaic (PV) projects, coupled with battery-energy storage system (BESS) facilities, in Riverside County, Calif.
The projects — known as Victory Pass and Arica —have 463 megawatts of PV capacity and 186 megawatts of four-hour BESS capacity. The two projects will have a total expected production of 1,500 gigawatt hours per year, producing enough electricity to supply the equivalent of 140,000 U.S. households and offset the equivalent of 600,000 tons of carbon dioxide each year of operation.
The projects are being developed and constructed by Clearway Energy, one of the largest renewable-energy owners and operators in the United States, which will remain as a minority equity owner and serve as managing member of the projects through its subsi
