EQT, a global investment company, has announced that its EQT Infrastructure VI fund (EQT Infrastructure) has agreed to purchase Madison Energy Investments (MEI) from Stonepeak Partners affiliates. No financial details have been disclosed. MEI, a Virginia company situated in Vienna, develops, owns, and operates distributed solar and energy storage projects for US commercial and industrial (C&I) as well as community-based customers. MEI launched in 2019 and has now built more than 386 MW of capacity around the country.
Furthermore, EQT will support MEI’s management team and platform by offering growth capital to fast-track the deployment of distributed solar and storage assets. The agreement also gives MEI access to EQT’s in-house digital skills so that the company can become even more digital.
In July 2022, EQT AB, a Swedish private-equity company’s EQT Infrastructure V fund agreed to purchase Cypress Creek Renewables from funds controlled by HPS Investment Partners, LLC and Temasek. The acquisition was scheduled to conclude in the second half of 2021, subject to normal conditions and approvals. Cypress Creek builds, funds, manages and owns solar energy and storage plants in the United States. The firm has built 11 GW of solar power and has about 3.7 GW under operations and maintenance management.