July 10, 2024

Aggreko Expands Portfolio with Acquisition of Infiniti Energy

Aggreko Energy Solutions, a leading developer, owner, and operator of utility-scale and distributed solar and storage projects, has acquired commercial and industrial solar developer Infiniti Energy. This strategic acquisition strengthens Aggreko’s renewable energy portfolio.

Infiniti Energy Acquisition Adds 34 MW of Solar Projects

The acquisition of Infiniti Energy adds 12 MW of contracted operational solar assets, 22 MW of solar projects ready for construction, and an extensive project pipeline to ETS's expanding portfolio. This move also bolsters ETS's presence in several East Coast markets and enhances its in-house capabilities, including power purchase agreement (PPA) origination and turnkey engineering, procurement, and construction (EPC) management.

Jerry Polacek, President of Aggreko ETS, stated, "By merging Aggreko's global scale, financial strength, and industry expertise with Infiniti's distributed solar development and EPC capabilities, we are uniquely positioned to provide turnkey decarbonization solutions to our customers."

Michael Kushner, CEO of Infiniti Energy and newly appointed General Manager of Aggreko ETS’s C&I business, said, "I extend sincere thanks to our dedicated team and share our excitement for the growth opportunities this transaction offers our clients. We deeply value the trust placed in us by our clients and vendors over the years, and we eagerly anticipate continuing to serve them with expanded resources and expertise."

Upper Bay Exits Infiniti's IPP with CRC-IB Advisory

Upper Bay, a mid-market infrastructure private equity firm, has finalized its exit from Infiniti Energy, which it developed into an IPP platform under institutional ownership. This transaction marks Upper Bay Infrastructure Partners' departure after successfully scaling Infiniti into an independent power producer (IPP). CRC-IB provided advisory services to Upper Bay Infrastructure Partners throughout the entire transaction

Partnerships’ Commitment to Renewable Energy

Aggreko Energy Transition Solutions (ETS), a division of Aggreko Ltd., specializes in developing, owning, and operating utility-scale and distributed solar and battery storage projects throughout the United States. ETS delivers comprehensive energy transition solutions that offer cost-effective, dependable, and environmentally friendly power to its customers.

Aggreko is a global leader in providing energy solutions that drive business growth and support community development. The company is dedicated to investing in sustainable products, fuels, and services, ensuring eco-friendly options are accessible and supporting our customers' journey toward a more sustainable and efficient future. Aggreko employs more than 6,000 people worldwide and manages a fleet of energy assets exceeding 10 GW.

Infiniti Energy is a national commercial solar developer and independent power producer. They offer engineering, procurement, construction, and long-term financing services to clients and solar companies. Infiniti's team has accumulated over 1GW of experience in both public and private sectors, serving Fortune 100 portfolios and government entities

Upper Bay Infrastructure Partners is a privately owned investment firm specializing in North American infrastructure private equity investments within the middle market. The firm focuses on diversified assets and growth-oriented opportunities, partnering with top operators and developers. Their primary investment sectors include transportation, power & utilities, midstream, and telecommunications. Established in 2018 by former Nuveen executives, Upper Bay is headquartered in New York City.

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