Stonepeak, a leading alternative investment firm specializing in infrastructure, has launched JouleTerra, a land aggregation platform for renewable energy sites across Europe. JouleTerra will acquire and lease land to renewable energy operators under long-term contracts, facilitating access to land they would otherwise need to procure and develop.
The platform aims to grow through the acquisition of existing platforms and undeveloped land, securing permits and grid connections as it prepares for development. Its first transactions include investments in Electric Land and Solaria’s Generia Land. Stonepeak has experience building platforms supporting energy transformation, such as Peak Energy, Synera Renewable Energy, and TerraWind Renewables in Asia.
It also supported North American distributed solar through Madison Energy Investments, fully realized in 2023. Recent platforms include Lestari Cooling Energy, a joint venture with KJTS in Malaysia focusing on district cooling, and Longview Infrastructure, a North American transmission project.
KEY QUOTES:
“While we continue to see surging demand for renewable energy generation across Europe, the availability of grid-connected, development-ready land able to support this infrastructure buildout continues to lag. Through JouleTerra, we are excited to broaden the availability of this critical resource, leveraging our extensive expertise in platform building and renewable energy investing to effectively support the renewables value chain.”
“JouleTerra represents a compelling, first-mover opportunity for Stonepeak as platforms of this nature backed by a global network such as ours do not yet exist in Europe at scale. We look forward to expanding the Platform and playing a meaningful role in the development of critical energy transformation-related infrastructure in Europe over the long-term.”
“The European energy market is in the midst of an incredible transformation, with renewable generation capacity expected to more than double between 2020 and 2030, and securing land is undoubtedly an essential role in this transition. We view land aggregation as an attractive and downside-protected segment of the value chain, given its propensity for long-term, inflation-linked revenues, with limited power price exposure.”
“Generia’s robust pipeline, coupled with Solaria’s established presence in Europe, make it a perfect fit for our newly established independent land aggregation platform, which will look to construct a diversified portfolio of grid-connected sites for critical renewable energy infrastructure across Europe. We look forward to scaling Generia and playing a meaningful role in the development of European renewables over the coming decades.”
Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak
“As clean and flexible energy scales across Europe, expanding the availability of grid-connected, development-ready land will be critical. Since its inception in 2015, Electric Land has assembled a portfolio of high quality assets underpinned by secure grid connections, and an established, diverse tenant base. We have strong conviction in Electric Land’s strategy and leadership and believe this provider of essential infrastructure is an excellent fit for Stonepeak’s independent land aggregation platform. We look forward to applying our expertise to drive further growth at Electric Land.”
Nikolaus Woloszczuk, Senior Managing Director at Stonepeak
“We are excited to partner with Stonepeak in what is the next important and exciting step in our growth strategy for Electric Land. Their deep expertise in energy and infrastructure, along with their active ownership approach, makes them an ideal partner as we expand our development pipeline, grow our footprint, and deliver on our mission to support the energy transition through strategic land ownership.”
Ben Lansman, Managing Director at Electric Land
“It is a great honor to partner with a top-tier investor like Stonepeak to build one of Europe’s leading renewable land platforms. The region offers significant growth potential for these types of investments, supported by strong governmental support for renewable energy and the energy transition. We are confident that Generia will play a key role in securing the land needed to meet the ambitious renewables targets set across Europe.”
Arturo Díaz-Tejeiro Larrañaga, Chief Executive Officer of Solaria
