EQT’s EQT Infrastructure VI fund has acquired Madison Energy Investments (MEI) from associates of Stonepeak Partners LP.
Founded in 2019 and headquartered in Vienna, Va., MEI is a developer, proprietor and operator of distributed solar and energy storage initiatives for industrial and industrial (C&I) and community-based clients inside the U.S.
MEI has constructed a portfolio of greater than 386 MW throughout the U.S. MEI’s on-site and proximate distributed energy initiatives deal with energy provide points by delivering price financial savings and enabling avoidance of transmission constraints for its clients.
EQT Infrastructure will assist the MEI administration workforce and platform by offering entry to development capital to speed up the deployment of distributed solar and storage belongings, providing EQT’s in-house digital experience to additional digitize the group, and increasing MEI’s attain throughout a broader buyer base.
“EQT Infrastructure has followed the renewable distributed generation market and MEI closely for several years given the strong thematic tailwinds supporting the sector, prior EQT experience in solar development and operation, and MEI’s strong position as a leading integrated platform in the U.S.,” says EQT’s Alex Darden. “The renewable generation sector is an increasingly important part of the energy transition, and we are excited to partner with the MEI team as they build on their strong track record and continue to provide solar and storage energy solutions that are not only better for the environment, but also have tangible cost savings for their customers.”
“We are looking forward to partnering with EQT’s U.S. infrastructure platform. EQT’s team, experience and growth mindset make them the ideal partner to amplify our business in achieving new heights in clean energy,” states Richard Walsh, managing associate of MEI. “This is an exciting chapter we call ‘MEI 2.0’ – a transformative time in the industry with strong policy tailwinds, compelling economics for our customers and ever-increasing demand for resiliency and ESG solutions. Our focus remains on our customers and our partners to lead them through this critical energy transition. We could not be more excited to lean into the EQT portfolio and accelerate that mission.”