Copenhagen Infrastructure Partners (CIP) has reached an agreement to acquire a 255-MW/1,020-MWh battery energy storage system (BESS) project, known as the Scatter Wash project, located in Phoenix, Arizona.
The acquisition is from US solar and storage developer Strata Clean Energy, though financial details of the transaction have not been disclosed. As part of the agreement, CIP will also act as the construction and asset manager for the project.
Currently under construction, the Scatter Wash BESS is expected to be commissioned in the first half of 2025. The project recently secured debt financing from JP Morgan and Nomura, as well as tax equity from US Bancorp. It will operate under a 20-year tolling agreement with utility Arizona Public Service (APS).
The facility, equipped with Tesla battery technology, will have the capacity to store sufficient electricity to power more than 250,000 homes for up to four hours each day.
This investment will be managed by CIP's fifth flagship fund, CI V, which aims to raise EUR 12 billion (USD 13.43 billion) and aspires to be the largest dedicated greenfield renewable energy fund in the world. The fund will focus on investments in wind, solar, and energy storage technologies across Europe, North America, and the Asia Pacific region.
