Carlyle-backed Copia Power completes merger with Birch Infrastructure

Copia is a renewable development platform formed in 2021 by Carlyle.

  • Ray Henger will serve as CEO of Copia Power
  • Following the integration, Copia will have 35 employees located nationwide across nine states
  • Carlyle has $376 billion of assets under management as of June 30, 2022

Copia Power, which is backed by Carlyle, has closed its merger with Birch Infrastructure’s renewable energy business. No financial terms were disclosed.

Copia is a renewable development platform formed in 2021 by Carlyle. As part of the transaction, Ray Henger, former chief development officer of sPower, the renewable development portfolio company owned by AES and AIMCo, has been hired to serve as CEO of Copia Power.

“The Birch and Copia management team members have extensive shared experience developing projects and working together over the last decade. Building Copia together with the support of Carlyle is an exciting and unique opportunity that allows us to expand on our past successes and incorporate shared lessons learned in a rapidly evolving sector.” said Henger, in a statement. “We will develop, build and operate several gigawatts of renewable generation in just a few years to help do our part in reducing the U.S. carbon footprint.”

Following the integration, Copia will have 35 employees located nationwide across nine states. Construction on the first 450 MWAC project in the West is expected to begin in early 2023 and a follow-on project totaling 500 MWAC with 1,000 MWhs of energy storage is expected to start later in 2023. The two projects will require more than $2.2 billion of capital and are projected to reach commercial operation in late 2024 and early 2025, respectively.

Carlyle has $376 billion of assets under management as of June 30, 2022.