Mission Clean Energy announced a strategic investment from Ørsted, a leader in clean energy. This partnership marks a major milestone in Mission’s development of utility-scale solar and battery energy storage projects across the US.
This investment builds on an existing partnership between Ørsted and Mission to build four standalone battery energy storage projects across the Midwest. And this most recent investment of $55 million provides additional growth capital to expand Mission’s project pipeline, including solar and storage projects across the country. Ørsted will continue to evaluate the acquisition of select projects, providing the option to augment Ørsted’s development pipeline.
With this funding by Ørsted and continued support from Wafra, Mission is well-positioned to continue creating and advancing projects supporting growing energy demand from utilities, data centers, manufacturing facilities, and other large-load sectors. Mission will continue operating as an independent business led by its current management team. The financial terms of the agreement were not disclosed.
Macquarie Capital served as Mission’s financial advisor and Latham & Watkins LLP provided legal counsel. K&L Gates LLP served as legal counsel to Ørsted.
KEY QUOTES:
“Ørsted’s investment is a strong validation of our disciplined approach to developing high-quality projects and partnering with best-in-class operators to bring them to market.”
– Max Bakker, CEO of Mission Clean Energy
“We are excited to expand our partnership with Mission Clean Energy to efficiently advance its development of renewable energy projects. This investment aligns with our strategy to enable multi-technology clean energy solutions and broaden our presence in the U.S. solar and storage market.”
– Mike Morrow, Vice President of M&A and Business Development at Ørsted
