Ørsted Makes Strategic Investment in Mission Clean Energy
Mission Clean Energy (“Mission”) has announced a significant strategic investment from Ørsted (CSE: ORSTED), a global leader in renewable energy. This partnership represents a major milestone in Mission’s efforts to expand its portfolio of utility-scale solar and battery energy storage projects across the United States.
Max Bakker, CEO of Mission Clean Energy, expressed his enthusiasm about the deal, stating, “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.”
The $55 million investment builds on an already existing collaboration between Ørsted and Mission, which includes the development of four standalone battery energy storage projects in the Midwest. This new infusion of capital will provide Mission with the resources to further expand its pipeline of solar and storage projects across the U.S. Additionally, Ørsted has expressed interest in evaluating the acquisition of select projects, offering the potential to enhance Ørsted’s own development pipeline.
Mike Morrow, Vice President of M&A and Business Development at Ørsted, shared his excitement about the expanded partnership, saying, “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.”
With this new funding from Ørsted, coupled with continued support from Wafra Inc., Mission is well-positioned to continue developing projects that meet the growing energy needs of utilities, data centers, manufacturing facilities, and other large-load sectors. The investment supports Mission’s goal of scaling up its renewable energy and storage solutions, a critical part of transitioning to a more sustainable and resilient energy system.
Despite this investment, Mission will continue to operate as an independent entity, led by its current management team. The terms of the agreement, including financial details, were not disclosed. Macquarie Capital served as Mission’s financial advisor, while Latham & Watkins LLP provided legal counsel to Mission. Ørsted was represented by K&L Gates LLP as legal counsel.
Founded in 2022 by seasoned professionals in the clean energy space, Mission Clean Energy is a national developer of utility-scale renewable energy and storage solutions. The company specializes in delivering customized, grid-scale solutions to utilities, municipalities, cooperatives, and corporate customers across the United States. With more than 11 gigawatts (GW) of renewable energy projects currently under development, Mission is expanding rapidly across key energy markets.
Backed by Wafra Inc., an alternative asset manager with approximately $28 billion in assets under management, Mission Clean Energy is well-positioned to leverage the expertise and resources of both Wafra and Ørsted to further its development efforts. Wafra’s extensive experience in investing in real assets and infrastructure complements Mission’s focus on enhancing grid stability and meeting large-scale energy demands. The combined strength of Wafra’s financial backing and Ørsted’s commitment to renewable energy technologies helps ensure that Mission will continue to lead the way in clean energy development.
Mission Clean Energy’s strategy of creating and advancing solar and energy storage projects aligns with broader industry trends aimed at tackling the challenges of energy transition. By providing tailored, reliable energy solutions, Mission supports industries that require large amounts of power, such as utilities and data centers, while also contributing to the reduction of carbon emissions.
The expansion of Mission’s solar and energy storage projects is a key element in supporting the energy transition in the U.S. Ørsted’s investment signals confidence in Mission’s ability to execute and accelerate renewable energy projects that will play a pivotal role in reducing dependence on fossil fuels and supporting grid resilience across the country.
As demand for renewable energy continues to increase, particularly from industries with high energy consumption, partnerships like the one between Mission Clean Energy and Ørsted are critical in delivering reliable and sustainable energy solutions. With its expanding project portfolio, experienced leadership team, and strategic backing, Mission Clean Energy is positioned for continued growth and success in the rapidly evolving energy sector.
