Infiniti Energy Services, a solar energy development firm based in Howell, has partnered with New York City-based Upper Bay Infrastructure Partners to form Infiniti Energy LLC, a platform for the development and acquisition of commercial and industrial solar assets in the Northeast and Mid-Atlantic regions.
Infiniti President Michael Kushner said the partnership should serve both firms well.
“We are excited to partner with Upper Bay as we combine the benefits of an experienced, agile and responsive enterprise with the stability of direct investment from a major infrastructure firm,” he said.
“As we see federal and state policies aligning with the continued decline of solar equipment costs, this partnership will allow us to maintain our long-term, client-first focus and rapidly expand our ability to offer creative, customized solar power solutions helping select clients achieve their energy, financial and (environmental, social and governance) goals.”
Since its inception in 2016, Infiniti has been involved in the successful development, construction and operation of more than 90 renewable energy projects. The current Infiniti portfolio is significant, with over 100 megawatts of commercial & industrial and community solar assets in development across the Northeast and Mid-Atlantic.
As part of the partnership, Upper Bay has committed $60 million to accelerate Infiniti’s development and acquisition of solar assets and expects a total project pipeline investment opportunity in excess of $200 million over the next three years.
Upper Bay Managing Partner Mario Maselli said the partnership makes sense.
“Investing in a solar platform led by a management team with a successful track record is a key focus of our firm’s growth strategy,” he said. “We are confident this new partnership will enable Infiniti to help meet the increasing demand for low-cost, renewable energy in North America, drive positive environmental outcomes and provide our clients with access to a fast-growing segment of the power industry.”
In conjunction with the investment, Infiniti is expanding its internal sales team and its development partner network, to grow its presence in the commercial, industrial and governmental sectors.
“Each new project we develop for our clients creates additional value in the sectors we serve. In addition, our projects create additional generation assets for the country, which benefits individuals, the local and global community by providing clean energy sources, improves the environment and reduces dependency on fossil fuels,” Kushner said. “We are truly excited to expand on our continued leadership in forming strong client partnerships.”