InfraRed, Navigant launch distributed energy platform

16 May 2019 - 12:00 am UTC

InfraRed Capital Partners and Navigant, a Chicago-based consultancy, have launched a joint venture (JV) to leverage public-private partnerships (P3s) for developing distributed energy projects, the firms announced.

The new company, Compass Energy Platform, will tap London-based InfraRed for capital to fund its future pipeline of projects while Navigant’s energy team will provide expertise, according to a 15 May press release. Rick Bolton, director of new projects on Navigant’s energy team, was named CEO of the new platform.

Compass investments will include distributed generation technologies such as solar, wind and batteries, as well as smart networks like microgrids and district heating and cooling. The platform will primarily invest in the US, Bolton told Inframation in an email, though investments outside the country are also possible.

“We aim to help our customers fight climate change and increase community and economic resilience through the deployment of distributed energy — solar, wind, fuel cells, combined heat and power, storage and microgrids — as well as smart city and communication technologies,” Bolton explained in the email. “These large projects are inherently complicated and risky, and we have developed a collaborative approach that derisks projects and guarantees that they benefit as many people as possible.”

Bolton would not reveal the amount of the planned investment. InfraRed did not return calls seeking comment.

Primarily active in Europe, InfraRed has made a handful of investments in the US and recently bid for both the Fargo-Moorhead Area Diversion P3 in North Dakota and the I-10 Mobile River Bridge P3 in Alabama. In October, the firm launched a JV with Hecate Energy to develop utility-scale energy storage projects in North America.

The firm closed on its USD 1.2bn InfraRed Infrastructure Fund V in December, hitting its hard cap.


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