Energy demand is booming. So is renewable energy deployment. The holdup? Transmission infrastructure to carry the clean energy from its source to homes and businesses across the country. Some 2.6 terawatts worth of power projects, the bulk of it wind and solar, were waiting to be connected to the US grid at the end of 2024, according to Lawrence Berkeley National Laboratory.
The country’s aging transmission infrastructure “requires a historic buildout,” say Ben Sumers and Eric Hayes, co-founders of Longview Infrastructure. The St. Louis, Mo.-based firm, which partners with independent system operators and communities, has teamed with alternative investment firm Stonepeak, which made an undisclosed equity investment, to develop electric transmission infrastructure projects in the US.
“Stonepeak’s equity commitment, deep understanding of the transmission space, and operational expertise in building platforms will enable us to effectively scale the team and meet the need in transmission head-on,” said Sumers and Hayes, former LS Power and NextEra Energy execs who launched Longview last year.
Green infrastructure
Rob Kupchak of Stonepeak says the funding will “enhance connectivity across communities” in the US. The New York-based infrastructure and real assets specialist investor, with $72 billion in assets under management, is currently investing through its $3.2 billion Stonepeak Opportunities Fund. The fund targets middle-market infrastructure investments, including data centers and fiber networks and energy transition assets in North America and Europe. Stonepeak declined to comment on the deal and fund.
