Origis Energy has secured more than $1bn in strategic investment, including funding from Brookfield Asset Management, alongside additional commitments from its existing sponsor, Antin Infrastructure Partners.
The combined funding will help the US-based renewable energy developer to advance its expansion efforts.
Brookfield’s investment is channelled through its Infrastructure Structured Solutions strategy, along with affiliated entities.
Brookfield infrastructure business managing director Hamish Kidd said: “We are thrilled with this new partnership with Origis Energy.
“As one of the world’s largest investors in renewable energy, we look forward to utilising our relationships and capital to scale-up the platform and meet the U.S.’s growing demand for clean power.”
The capital injection also seeks to accelerate Origis Energy’s growth as an independent power producer. It will also bolster the firm’s portfolio of solar and battery storage assets amid soaring demand for clean energy solutions.
Origis Energy has been a portfolio company of Antin Infrastructure Partners since 2021. The company specialises in the development, construction, and operation of large-scale renewable energy projects across the US.
Currently, Origis Energy operates a solar and storage portfolio of approximately 1GW across four states. It also has 3GW of projects either under construction or construction-ready, with a further 25GW in its development pipeline.
Origis Energy CEO Vikas Anand said: “We are excited to welcome Brookfield as a new significant investor and are grateful for Antin’s continued leadership.
“With two of the world’s most well-respected renewable power infrastructure investors as our partners, we will accelerate our mission and strategy to provide cost-effective, carbon-free electricity to customers across the US.”
For the transaction, PJT Partners, J.P. Morgan, and Santander served as advisers with legal counsel provided by Latham & Watkins. Brookfield was represented by Vinson & Elkins.
Last week, Origis Energy announced the successful closure of financing for its 145MW Swift Air solar project in Ector County, Texas. The $415m funding package comprises construction, term debt, and tax equity financing facilitated by Natixis Corporate & Investment Banking (CIB) and Advantage Capital.
Currently under construction, the Swift Air solar project is expected to commence commercial operations around mid-2025.
The project will supply zero-emission solar power to the direct air capture (DAC) facility, STRATOS, being built by Occidental and its subsidiary 1PointFive in the Permian Basin.
