New York – October 17, 2022 – Wafra Inc. (“Wafra”), a global alternative asset manager, today announced the acquisition of a controlling interest in Mission Clean Energy LLC (“Mission”), a utility scale renewable asset developer. Alongside Wafra, Aggregate Power Infrastructure LLC (“API”), a clean infrastructure investor, will be investing in Mission.
Mission has aggregated a 3GW project development pipeline with a diverse geographical presence across North America and a focus on solar and battery storage projects. Wafra’s investment will be utilized to accelerate the expansion and delivery of these pipeline assets. Mission was founded in 2022 to respond to the growing demand for renewable energy assets by a well-established leadership team.
“Mission is thrilled to be partnering with Wafra to grow our nationwide presence” said Max Bakker, Co-Founder and CEO of Mission Clean Energy. “The business case for renewables and storage has never been stronger. Wafra is a well-capitalized, collaborative partner that shares our vision of driving the energy transition and, creating positive impacts on local communities while decarbonizing the grid.”
“We see a significant market opportunity for solar and battery storage infrastructure in the United States as demand for renewable energy continues to grow,” said Edward Tsai, Managing Director at Wafra. “The team at Mission Clean Energy has an impressive track record of delivering high quality renewable energy projects, rooted in a disciplined approach to market entry, site selection, and project development. We look forward to accelerating Mission’s growth.”
Latham & Watkins LLP served as legal advisor to Wafra and API. Farella Braun + Martel LLP served as legal advisor to Mission.
About Mission Clean Energy
Mission is a utility-scale renewable energy and storage developer focused on accelerating America’s clean energy future, leading the way by providing clean, abundant, and reliable energy to communities throughout the U.S. The company’s goal is to decarbonize the grid responsibly, one renewable energy project at a time. With decades of combined experience, the Mission team expertly manages even the most complex projects from concept to completion, and helps utility and corporate customers deliver dependable, customized energy solutions.
For more information, please visit www.missioncleanenergy.com.
Wafra is a global alternative investment manager with approximately $32 billion of assets under management across real assets, real estate, and financial services. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra seeks to align and partner with high quality asset owners, companies, and management teams. Headquartered in New York, Wafra has additional offices in London, Kuwait, and Bermuda. For more information, please visit: www.wafra.com.
Aggregate Power Infrastructure LLC is an investment partnership dedicated to the electrification and decarbonization of the United States economy. API’s partners are experienced and dedicated renewable energy and clean infrastructure investment professionals. The firm focuses on supporting quality management teams and assets that enable the energy transition. The firm’s headquarters is in New York.