The Carlyle Group has formed a new portfolio company, known as Copia Power, which will focus on developing utility scale sustainable infrastructure in the United States.
Carlyl is planning to deploy up to $700 million in capital and arrange more than $6 billion in project finance to advance the development and build out of assets through the Copia platform.
Through strategic relationships with Tenaska Inc. and Birch Infrastructure, Copia expects to initially focus on developing, owning and operating large-scale renewable-energy generation. The platform has acquired a 6-gigawatt U.S. solar and storage development pipeline from Tenaska, which will continue to work with Carlyle and Copia to develop the portfolio. Birch has contributed 800 megawatts of its contracted renewable energy supply agreements and associated development assets, and the firm will advance all renewable development activities through the exclusive partnership with Carlyle and Copia.