Morgan Stanley Infrastructure Partners (MSIP) and Torch Clean Energy have announced a strategic partnership aimed at expanding and transitioning the Torch platform. MSIP will make a strategic investment in Torch, which will help the company transition from a development platform to an integrated clean power platform with capabilities across development, construction, and asset management.
Torch Clean Energy has successfully originated, developed, and sold over 1.2 gigawatts of renewable power assets since its founding. The company has established strong relationships with offtakers and developed a strategic approach to siting and interconnection. It has expertise in developing projects throughout the United States, particularly in the Mid-Atlantic region, including Virginia, known for its data center demand hub, and the desert Southwest with its robust solar resources.
Jonathan Kilberg, CEO of Torch Clean Energy, expressed enthusiasm about the partnership: “We are excited to partner with Morgan Stanley Infrastructure Partners. This partnership gives us the resources and support to scale our operations, enhance our capabilities and continue to deliver real value to our customers. Together, we’re focused on driving innovation, improving efficiency, and meeting the rising demand for clean, reliable energy and capacity.”
The collaboration with MSIP allows Torch to expand its value offering as an integrated development and operating platform. MSIP will assist in building out construction and operations management capabilities as well as procurement and project finance by leveraging its network and resources.
Chris Ortega, Head of Americas for MSIP stated: “We are thrilled to partner with the Torch team through this strategic investment that will support the next phase of their journey, transitioning into an integrated renewable power business.” He further noted that "Torch is well-positioned to benefit from industry tailwinds such as electrification and data center demand."
Latham & Watkins LLP served as legal counsel for Torch Clean Energy while KeyBanc Capital Markets acted as financial advisor. Simpson Thacher & Bartlett LLP provided legal counsel for MSIP with Santander serving as financial advisor.
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