Global Infrastructure Partners (GIP) has acquired MAP® RE/ES, the renewable energy business of MAP® Energy (MAP®).
GIP’s fourth flagship fund, GIP IV, will acquire 100% 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 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.
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 $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.
“We are excited to announce the acquisition of MAP’s world-class renewables business. MAP® RE/ES has been one of the most successful investors in U.S. 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.”Adebayo Ogunlesi, chairman and managing partner of GIP.
“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.”Aaron Zubaty, CEO of MAP® RE/ES.