Elevate Renewables inks $150m from ArcLight

• ArcLight has invested over $4 billion in hydroelectric, solar, wind and geothermal generation infrastructure since 2001
• ArcLight Capital Partners invests in middle-market sustainable infrastructure

ArcLight Capital Partners has committed $150 million to Boston-based Elevate Renewables, which is focused on developing battery storage projects.

The company also has a brownfield development pipeline of over 5 gigawatts of potential capacity at over 20 sites. Elevate will also focus more broadly on projects in U.S. electricity markets where the rapid growth of intermittent renewable energy has created a need for flexible, dispatchable zero-carbon energy.

“We are excited to announce our commitment to Elevate Renewables to capitalize on what we feel are captive and advantaged brownfield development opportunities within our existing power infrastructure portfolio,” said Dan Revers, managing partner at ArcLight Capital in a statement. “ArcLight is one of the largest power producers in the United States today, and this investment further builds upon and will benefit from our extensive track record within the power infrastructure and renewable infrastructure sectors,”

ArcLight has invested over $4 billion in hydroelectric, solar, wind and geothermal generation infrastructure since 2001. The firm’s investments include one of the largest wind farms in North America, the largest conventional hydroelectric platform in New England, and the largest solar power platform in Puerto Rico.

ArcLight Capital Partners is a middle-market sustainable infrastructure investor. Since inception, ArcLight has invested approximately $27 billion in 123 transactions, including over $16 billion of equity into the power, renewables, strategic gas and transformative infrastructure sectors.