SAN FRANCISCO--(BUSINESS WIRE)--Climate Adaptive Infrastructure, LLC (“CAI”), an investment firm funding low-carbon energy, water and transport infrastructure and Meridian Clean Energy (“Meridian”), a power project owner and developer enabling a decarbonized future energy system, today announced their strategic partnership. Their first investment is the acquisition of a 25% interest in the Sentinel Energy Center, an 850 MW peaking power plant in Riverside California.
Sentinel Energy Center operates eight large turbines, creating one of the most efficient and flexible peaking power plants in Southern California. Sentinel’s quick-start capability enables it to efficiently fill the peaks and valleys created by the 11 gigawatts of intermittent wind and solar resources surrounding the plant and serving the greater Los Angeles basin.
“We are delighted to initiate our strategic partnership with Meridian Clean Energy and to acquire a significant interest in Sentinel, a key to the ongoing decarbonization of the Southern California energy market,” said Bill Green, Founder and Managing Partner at CAI. “Together with the Meridian team and our partners at Sentinel, we plan to demonstrate how natural gas dependent peakers can be decarbonized, while contributing to the energy security of large, complex utility grids. We look forward to collaborating with Meridian to replicate this program in other markets, driven by utility demand for decarbonized grid-stabilization capacity.”
“As California continues toward its decarbonization goals, Sentinel works to stabilize the increasingly renewable-driven grid. We are excited to partner with CAI on this asset, which is critical to the continued deployment of wind and solar on the CAISO system and will be a critical asset for grid decarbonization,” said John Woolard, CEO of Meridian Clean Energy.
About Climate Adaptive Infrastructure
Climate Adaptive Infrastructure, LLC ("CAI") is an infrastructure investment firm specializing in low-carbon real assets in the energy, water and transport sectors. CAI funds large-scale, low-carbon infrastructure investments that can withstand the structural risks and economic pressures of the climate crisis and that can provide CAI and its funding partners a viable hedge against climate losses.
About Meridian Clean Energy
Meridian Clean Energy is focused on owning and developing power generation and storage assets with the flexibility and reliability to enable a decarbonized future energy system. The Meridian team brings deep experience across all power generation types and in the integration of the latest technologies at utility scale.