Global private capital investment firm The Carlyle Group announced commitments of over $100 million in energy transition-focused companies, including community-scale clean energy developer NineDot Energy and electric vehicle charging and services company Fermata Energy.
New York City-based NineDot develops community-scale clean energy generation and battery storage projects. According to NineDot, the Carlyle investment will achieve the company’s plan to develop, build, and operate more than 400 megawatts of clean energy systems by 2026, including a pipeline of battery storage projects in Queens, Staten Island, the Bronx, and Long Island.
David Arfin, CEO and Co-Founder of NineDot Energy said:
“NineDot Energy thrives on developing innovative business models and projects that support a more resilient electric grid while simultaneously delivering economic savings and reducing carbon emissions. Carlyle’s investment will enable NineDot to further advance its leadership position in providing community clean energy solutions in New York and beyond.”
Fermata, founded in 2010, designs, supplies and operates technologies aimed at integrating EVs into buildings and the electric grid, utilizing a ‘vehicle-to-everything’ (V2X) platform that allows electric vehicles to act as dispatchable energy storage resources when not in use.
David Slutzky, Founder and CEO of Fermata Energy said:
“To enable the transition to a clean energy economy, abundant energy storage must be deployed quickly and at scale. The investment from Carlyle allows Fermata Energy to make EVs more affordable, help fortify the electric grid, and create positive climate action.”
The deals mark a continuation of energy transition-focused transactions by Carlyle, including the launch of a wholly owned utility scale sustainable infrastructure platform Copia Power, kicked off with the acquisition of a 6 GW U.S. solar and storage development pipeline from energy developer and operator Tenaska. Overall, over the past two years, Carlyle’s infrastructure platform has committed more than $1.2 billion to renewable and sustainable energy companies.
Pooja Goyal, Chief Investment Officer of Carlyle’s Infrastructure Group, said:
“There is a large and growing investment opportunity in building the renewable energy capacity required to power a lower-carbon grid. Batteries and the greater penetration of electric vehicles within our transportation mix both play a vital role in transitioning to a cleaner, more reliable grid. We are proud of our new partnerships with NineDot and Fermata Energy, and look forward to leveraging Carlyle’s deep industry expertise, broad network, and late-stage development capabilities to support our partners in expanding into broader energy transition growth channels.”