HIG Capital has acquired a controlling interest in Greenflash Infrastructure, a US-based grid-scale energy storage and power generation company.
HIG said its affiliate had acquired the controlling stake without disclosing financial details but added that the investment would provide Greenflash with the necessary support and resources to advance its near-term strategic initiatives.
Greenflash, headquartered in Houston, Texas, specialises in the acquisition, development, financing, ownership and operation of grid-scale energy storage, power generation and controllable load projects.
The company delivers power solutions to utilities, municipal cooperatives and other load-serving entities in areas with supply constraints.
Josh Prueher, managing partner at Greenflash, said: 鈥淲e are delighted to partner with HIG to capitalise on our extensive pipeline of projects. Our team of industry veterans is uniquely positioned to identify attractive opportunities and deliver creative solutions to both existing project developers and a wide range of load-serving entities.
鈥淗IG鈥檚 support will enable us to pursue 鈥� and accelerate 鈥� a wide range of brownfield and greenfield opportunities.鈥�
George Watts, managing director with HIG Infrastructure, said: 鈥淭he Greenflash management team has a proven track record of successfully developing and operating numerous energy storage projects across multiple markets.
鈥淲e鈥檙e extremely excited to partner with the team and look forward to leveraging HIG.鈥檚 capabilities and relationships to enhance the company鈥檚 growth in the rapidly expanding renewable energy market.鈥�
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