Copenhagen Infrastructure Partners (CIP) has acquired full ownership of the 1-gigawatt Beehive battery energy storage system in Peoria, Arizona, from EDF Power Solutions North America, the Danish investment firm said on Friday.
The project, which will provide 250 megawatts of four-hour storage capacity, is currently under construction and is expected to become operational in the first half of 2026. Once online, Beehive will operate under a 20-year tolling agreement with Arizona Public Service Company (APS), which serves around 1.4 million homes and businesses across 11 counties in the state.
The facility is designed to absorb excess energy from the grid during times of high renewable generation and release power during peak demand, supporting grid reliability and rising capacity needs in the region.
“With electricity demand rapidly increasing in the Southwest, we anticipate battery storage will play a critical role in powering innovation and economic growth,” said Tim Evans, partner and head of North America at CIP.
EDF Power Solutions, which developed Beehive, described the project as part of its growing focus on battery storage systems.
“EDF Power Solutions actively seeks partnerships across all stages of a project’s lifecycle, with an eye toward both optimising our portfolio and maximising value creation,” said Ryan Pfaff, executive vice president for grid and distribution-scale power.
The acquisition was made through Copenhagen Infrastructure V (CI V), CIP’s flagship fund, which reached a final close in March 2025 with more than $14 billion committed across energy infrastructure assets in North America, Europe, and the Asia-Pacific region.
The deal highlights continued investor interest in large-scale battery energy storage systems (BESS), as utilities seek solutions to balance intermittent renewable generation with increasing electricity demand.
