Copia Power, a Carlyle Portfolio Company, Closes $1.71 Billion Construction Loan for Maricopa Energy Center

Copia Power closes debt financing for Arizona 's largest energy transition, power generation project.

DANA POINT, CA AND WASHINGTON, DC / ACCESS Newswire / March 6, 2025 /Copia Power (Copia) today announced it has executed a $1.71 billion debt facility to fund the construction of its Maricopa Energy Center projects. Lenders provided a commitment for a construction loan, term loan and letters of credit.

Maricopa Energy Center is located in Maricopa County, Arizona and consists of 550 MW of solar generating capacity and 2,200 MWh of battery energy storage capacity. The project is being constructed in two phases which have both executed Power Purchase Agreements with Arizona Public Service and are scheduled to reach commercial operation in 2026-2027. Once operational, Maricopa will be the single largest energy transition, power generation project in Arizona.

"Closing the Maricopa Energy Center financing is another major milestone for Copia as we continue to build out our pipeline of large-scale energy, critical infrastructure campuses," said Dan Murphy, Copia 's Managing Director and Head of Capital Markets. "We have raised over $3.5 billion of financing in less than six months which is a testament to the strength of the Copia team, our assets, and the ongoing support of Carlyle and our capital partners."

This financing, which was executed by BNP Paribas, Canadian Imperial Bank of Commerce (CIBC), Crédit Agricole CIB, KeyBanc Capital Markets, Natixis CIB, and Wells Fargo as Coordinating Lead Arrangers, provides $1.71 billion to fund the construction and operations of the Maricopa Energy Center. CIBC also acted as Administrative Agent, and Natixis CIB as Documentation Agent. This brings Copia 's total installed capacity of financed power infrastructure projects in Arizona to 1.5 GW of solar and 4.5 GWh of storage.

Aashish Mohan, Co-Head of Energy, Resources & Infrastructure Americas, at BNP Paribas, commented, "BNP Paribas is proud to support Copia as a Coordinating Lead Arranger, Joint Bookrunner and Syndication Agent on another largescale clean energy project financing. Supporting premier platforms like Copia squarely fits within our energy transition ambitions, and we look forward to partnering with them again as they continue to execute on their high-quality renewables portfolio."

"The Maricopa Energy Center financing is another robust example of Copia building out its pipeline of large-scale energy projects. We are proud of the partnership that CA-CIB has developed with Copia and we are committed to continue the investments into clean energy projects such as Maricopa," said Daniel Feigin, MD and Head of Project Finance - Power & Infrastructure (North America) at CA-CIB.

"CIBC is proud to support Copia Power as Administrative Agent, Coordinating Lead Arranger, Joint Bookrunner and Syndication Agent on another successful financing of a mega-scale renewable project in Arizona," said Peter O 'Neill, MD and Head of US Project Finance & Infrastructure at CIBC. "We are thrilled to close our fourth transaction with Copia, and this transaction underscores CIBC 's ongoing commitment to helping our clients achieve their sustainability ambitions."

"We are proud to continue our relationship with the experienced management team at Copia Power, who is committed to advancing clean energy," said Nadav Hazan Vice President, KeyBanc Capital Markets, Utilities, Power & Renewable Energy Group.

"We 're thrilled to support Copia as Documentation Agent, Syndication Agent, Joint Bookrunner, and CLA on the Maricopa financing," said Bhuvan Jain, Executive Director at Natixis CIB. "This is our fourth financing commitment to Copia over the last 16 months and demonstrates our confidence in Copia 's top-tier team and high quality asset portfolio."

"Wells Fargo is proud to be a part of the Maricopa financing, a solar and battery storage project that will help Copia accelerate its strategy to transition to a lower carbon economy," said Yann Blindert, MD, Renewables and Asset Finance, Corporate & Investment Banking at Wells Fargo.

Stoel Rives LLP served as the lead Borrower 's counsel on the deal, with Snell & Wilmer and Holland & Hart LLP serving as local counsel. Milbank LLP served as CLA 's counsel, with Ballard Spahr LLP serving as local counsel.

CRC-IB and Carlyle Capital Markets served as Copia 's advisors.

About Copia Power

Copia Power is an energy transition company committed to developing, constructing and owning large-scale infrastructure assets in the U.S. Copia Power is actively developing more than 15 GW of renewable energy projects and 12 GW of data center campuses in the US. Copia Power is backed by Carlyle, one of the world 's largest global investment firms.

About Carlyle

Carlyle (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle 's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

SOURCE: Copia Power

View the original press release on ACCESS Newswire

© 2025 ACCESS Newswire. All Rights Reserved.