EQT, a global investment organization based in Stockholm, Sweden, through its EQT Infrastructure VI fund, has acquired Madison Energy Investments, a distributed solar and energy storage project company, from affiliates of Stonepeak Partners LP.

Founded in 2019 and headquartered in Vienna, Va., MEI serves commercial and industrial and community-based customers within the U.S. The company has a portfolio of over 386 megawatts across the country. EQT Infrastructure will work to support the MEI management team by providing access to growth capital to drive the deployment of distributed solar and storage assets, offering EQT’s digital experience to digitize the organization and working to expand MEI’s footprint across an expanded customer base.

The renewable generation sector is an increasingly important part of the energy transition, and we are excited to partner with the MEI team as they build on their strong track record and continue to provide solar and storage energy solutions that are not only better for the environment, but also have tangible cost savings for their customers,” states Alex Darden, partner and head of EQT’s U.S. Infrastructure team.

EQT Infrastructure was advised by Barclays (financial) and Simpson, Thacher, & Bartlett LLP (legal).