Mar 19, 2025 6:00 AM Eastern Daylight Time
SAN FRANCISCO–(BUSINESS WIRE)–Mission Clean Energy (“Mission”) announced today a strategic investment from Ørsted (CSE: ORSTED), a global leader in clean energy. The partnership marks a major milestone in Mission’s development of utility-scale solar and battery energy storage projects across the United States.
“Ørsted’s investment is a strong validation of our disciplined approach to developing high-quality projects and partnering with best-in-class operators to bring them to market,” said Max Bakker, CEO of Mission Clean Energy.
The investment builds on an existing partnership between Ørsted and Mission to build out four standalone battery energy storage projects across the Midwest. This most recent investment of $55 million provides additional growth capital to expand Mission’s project pipeline, encompassing both solar and storage projects across the country. Ørsted will continue to evaluate the acquisition of select projects, providing the option to augment Ørsted’s development pipeline.
“We are excited to expand our partnership with Mission Clean Energy to efficiently advance its development of renewable energy projects,” said Mike Morrow, Vice President of M&A and Business Development at Ørsted. “This investment aligns with our strategy to enable multi-technology clean energy solutions and broaden our presence in the U.S. solar and storage market.”
With this investment by Ørsted and continued support from Wafra, Mission is well-positioned to continue creating and advancing projects supporting growing energy demand from utilities, data centers, manufacturing facilities, and other large-load sectors. Mission will continue to operate as an independent business led by its current management team. The financial terms of the agreement were not disclosed. Macquarie Capital served as Mission’s financial advisor and Latham & Watkins LLP provided legal counsel. K&L Gates LLP served as legal counsel to Ørsted.
About Mission Clean Energy
Founded in 2022 by seasoned clean energy professionals, Mission is a national utility-scale renewable energy and storage developer delivering customized, grid-scale solutions to utilities, municipalities, cooperatives, and corporate customers. With a robust portfolio of over 11 GW under development, Mission continues to expand its portfolio across high-growth energy markets. Backed by Wafra Inc, an alternative asset manager with approximately $28 billion of assets under management and deep experience investing in real assets and infrastructure, Mission leverages industry expertise and strategic partnerships to develop energy assets that enhance grid stability and support large-scale energy demands. To learn more about Mission, visit the company’s website or follow the company on LinkedIn.
About Ørsted
A global clean energy leader, Ørsted develops, constructs, and operates offshore and land-based wind farms, solar farms, energy storage facilities, and bioenergy plants. In the United States, the company has approximately 800 employees and a portfolio of American energy assets and partnerships that include offshore wind energy, land-based wind energy, solar, battery storage and e-fuels from New England and New York to Texas, Kansas and other states across the country. In total, the company has approximately 11 gigawatts of American energy projects in development, construction, and operation, all contributing to meeting growing electricity demand, local job creation, and new manufacturing, from shipbuilding in Louisiana to cables in South Carolina. Ørsted operates America’s first offshore wind farm, located off the coast of Block Island, the country’s first utility-scale offshore wind farm, South Fork Wind, and one of the country’s largest battery storage facilities located in Arizona, all delivering affordable and reliable energy. To learn more about the Ørsted U.S. business, visit us.orsted.com or follow the company on X (@OrstedUS), Instagram, and Facebook.
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