AIP Management (AIP), founded by Danish pension provider PKA, is to invest an undisclosed sum in Silicon Ranch, an independent power producer (IPP) in the US.
AIP said the transaction reflects its confidence in the resilience of US clean energy and the strong fundamentals supporting large-scale renewables in the US.
Founded in 2011 and headquartered in Nashville, Tennessee, Silicon Ranch is a fully integrated IPP with a track record of developing, constructing, owning and operating utility-scale energy infrastructure projects across 15 US states and Canada.
The company is best known for being the first to deploy utility-scale solar in Tennessee, Georgia, Mississippi, Arkansas, and Kentucky. Silicon Ranch also has the largest agrivoltaics portfolio in the US, under Regenerative Energy.
Silicon Ranch’s portfolio includes 3.6GW of operating capacity and another 3.7GW in construction or under contract across the US. The company is aiming to reach more than 10GW of operating capacity by the end of 2030.
Kasper Hansen, CEO and managing partner of AIP, said: “This investment builds on our strategy of partnering with high-quality infrastructure platforms. Silicon Ranch is a leading IPP with profound local expertise, an embedded presence in the communities it serves, and a fully integrated approach to delivering clean power at scale.
“Our investment supports its continued growth and reflects our confidence in businesses with strong fundamentals and the ability to drive the energy transition forward.”
Reagan Farr, president and CEO of Silicon Ranch, said: “Silicon Ranch is pleased to welcome AIP as our newest strategic partner and eager to add their rich experience in long-term infrastructure investment and deep understanding of our sector to our shareholder base.
“With the support of AIP and our other shareholders, Silicon Ranch is well-positioned to execute our growth strategy as we partner with our diverse set of customers to deliver necessary energy infrastructure, all while helping American communities become stronger, healthier and more resilient.”
Silicon Ranch’s existing shareholders include Shell, Manulife Investment Management and TD Asset Management.
TD Asset Management, Silicon Ranch’s first institutional shareholder through the TD Greystone Infrastructure Fund in 2014, also joined AIP in the equity-raise process.
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