San Francisco, CA (PRWEB)
July 10, 2017
Intersect Power, a utility-scale power development company, today announced an investment by Macquarie Infrastructure Corporation (NYSE:MIC) in the development of the company’s solar and power storage projects across the U.S. The investment includes equity, contingent equity commitments and credit facilities that comprehensively fund Intersect Power’s pipeline development and expansion.
Founded in 2016, Intersect Power has approximately 700MWp of early stage projects in California and Texas, and is actively pursuing additional development opportunities across the U.S. This pipeline of projects is being developed for energy delivery from 2019 to 2021.
A $6.6 billion listed company, MIC’s portfolio of infrastructure businesses includes over 350MW of operating solar and wind power assets. MIC is actively engaged in the development and acquisition of renewable power operations.
“In the next decade, there is no surer bet than the re-invention of the energy sector and the rebuilding of our infrastructure with cleaner technologies based on renewables, electricity storage, and natural gas. MIC’s investment in our team and project pipeline is solidly aligned with our goal to develop projects that leverage this inevitable change in energy markets,” said Sheldon Kimber, Managing Partner and Co-Founder, Intersect Power.
“The Intersect Power team is highly skilled and experienced at identifying competitive projects and the underlying development themes to advance projects to operation and deliver value,” said James Hooke, CEO of MIC. “The…