Global alternative investment manager Wafra has bought a controlling interest in Mission Clean Energy, a US utility-scale renewable asset developer.

Wafra said its investment, which will be made alongside Aggregate Power Infrastructure, will be used to accelerate the expansion and delivery of Mission’s pipeline assets.

Mission, founded last year, has aggregated a 3GW project development pipeline with a diverse geographical presence across North America and a focus on solar and battery storage projects.

Edward Tsai, managing director at Wafra, said: “We see a significant market opportunity for solar and battery storage infrastructure in the United States as demand for renewable energy continues to grow.

“The team at Mission Clean Energy has an impressive track record of delivering high-quality renewable energy projects, rooted in a disciplined approach to market entry, site selection, and project development. We look forward to accelerating Mission’s growth.”

Max Bakker, co-founder and CEO of Mission Clean Energy, said: “Mission is thrilled to be partnering with Wafra to grow our nationwide presence.

“The business case for renewables and storage has never been stronger. Wafra is a well-capitalised, collaborative partner that shares our vision of driving the energy transition and, creating positive impacts on local communities while decarbonising the grid.”

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