Carlyle has announced the formation of Copia Power a platform focused on developing sustainable infrastructure in the US.
Carlyle says Copia’s strategy is to partner with established industry leaders to develop, own and operate sustainable infrastructure assets. By combining with Tenaska and Birch Infrastructure, Carlyle anticipates deploying up to $700M in capital and arranging over $6B in project finance to advance the development and build out of assets through the Copia platform.
Copia expects to initially focus on developing, owning, and operating large-scale renewable energy generation through its strategic relationships with Tenaska and Birch. Copia has acquired an approximately 6GW U.S. solar and storage development pipeline from Tenaska who will continue to work with Carlyle and Copia to develop the portfolio. Birch has contributed 800MW of its contracted renewable energy supply agreements and associated development assets and will advance all its renewable development activities through this exclusive partnership with Carlyle and Copia
Copia is led by founding employees and industry veterans Ryan Galeria, Katie Heath and Arthur Sonnenfeld.
Pooja Goyal, Partner and Co-Head of Carlyle’s Infrastructure group said, “The formation of Copia Power and relationships with Tenaska and Birch highlight Carlyle’s continued commitment and focus on finding differentiated and attractive investment opportunities that will drive the energy transition. We feel strongly that the combination of leading and proven management teams such as Tenaska and Birch, along with the scale and capabilities of our platform at Carlyle, we can drive significant growth and accelerate the development of utility scale sustainable infrastructure in the United States.”