GIP to Acquire MAP Energy’s RE Business With Interest in 16 GW of Projects

Global Infrastructure Partners (GIP) has announced the acquisition of MAP® RE/ES, the renewable energy business of MAP® Energy.

Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor, has announced the acquisition of MAP® RE/ES, the renewable energy business of MAP Energy.

GIP’s fourth flagship fund, GIP IV, will acquire 100 percent of the MAP RE/ES investment platform, team, and renewable energy assets under management from MAP®, a private fund manager and energy investor. The assets include a portfolio of producing royalty interests across more than 16,000 MW (16 GW) of operating wind and solar projects in the United States, as well as a nationwide development pipeline managed through joint ventures with leading national and regional development partners. The MAP® RE/ES business will continue to be led by its existing investment team.

Adebayo Ogunlesi, Chairman and Managing Partner of GIP, said, “MAP® RE/ES has been one of the most successful investors in US renewables and has created an attractive, extremely diversified portfolio that includes exceptionally high-quality operating cash flow from the royalty interests and the opportunity to invest additional capital in a leading development pipeline.  We look forward to working with the team that built this highly successful business.”

This transaction expands on GIP’s global renewables investment strategy, which has a proven track record of value creation. GIP’s current portfolio includes approximately USD 9 billion of equity investments and commitments in the sector, and ownership interests in over 10 GW of operating renewable assets and over 65 GW under construction or in development.

Aaron Zubaty, CEO of MAP® RE/ES, added that “partnering with a global leader in infrastructure investing that also shares our values and philosophy is a rare opportunity.  Our team is delighted to collaborate with GIP to advance more than 15 years of work to date as we continue the meticulous management and growth of our assets.”

In September, we had reported that the RattanIndia Group had sold its solar plants and assets with a combined capacity of 306 MW to GIP for around Rs 1,670 crore. The group has a solar assets portfolio of 306 MW, consisting of ground-mounted solar assets of 297 MW capacity spread across Karnataka (Pavagada), Maharashtra (Katol), Rajasthan (Bhadla), and Uttar Pradesh (Allahabad and Bareilly) and 9 MW rooftop solar projects spread across 10 cities, a company statement said. The average tariff of the firms’ solar power projects is Rs 4.50 per unit.