Torch Clean Energy Partners with Morgan Stanley Infrastructure
Deal News | Jan 21, 2025 | Morgan Stanley (MSCP)
Morgan Stanley Infrastructure Partners (MSIP) has announced a strategic partnership with Torch Clean Energy, a leading U.S.-based developer of utility-scale solar and storage projects. This investment by MSIP is aimed at expanding Torch's operations from a development-only platform to a comprehensive clean power platform with capabilities in development, construction, and asset management. Torch, with its track record of originating and selling over 1.2 gigawatts of renewable power assets, has developed a strong presence in key markets like the Mid-Atlantic and the desert Southwest. CEO of Torch, Jonathan Kilberg, expressed excitement over the partnership, emphasizing enhanced capabilities and customer value. Latham & Watkins LLP and Simpson Thacher & Bartlett LLP served as legal advisors, with financial advice by KeyBanc Capital Markets and Santander. MSIP, part of Morgan Stanley Investment Management, manages $17 billion in assets across vital sectors like energy transition and utilities.
Sectors
- Renewable Energy
- Infrastructure Investment
Geography
- United States – Torch Clean Energy's operations and growth strategy focus on U.S. markets, particularly the Mid-Atlantic and desert Southwest regions.
Industry
- Renewable Energy – The article discusses the strategic partnership and transition of Torch Clean Energy into a broader clean power platform, emphasizing the renewable energy industry.
- Infrastructure Investment – Morgan Stanley Infrastructure Partners' involvement signifies the strategic investment into essential public goods, aligning with infrastructure investment trends.
Financials
- $1.7 trillion – Morgan Stanley Investment Management's assets under management or supervision as of December 31, 2024.
- $17 billion – Morgan Stanley Infrastructure Partners' assets under management since inception.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Torch Clean Energy | Target Company | Company | A U.S.-based developer of solar and storage projects with over 1.2 gigawatts of renewable energy assets developed. |
| Morgan Stanley Infrastructure Partners (MSIP) | PE Firm/Investor | Company | A leading global private infrastructure investment platform with approximately $17 billion in assets under management. |
| Latham & Watkins LLP | Legal Advisor | Company | Provided legal counsel for Torch Clean Energy. |
| KeyBanc Capital Markets | Financial Advisor | Company | Served as financial advisor for Torch Clean Energy. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Provided legal counsel for Morgan Stanley Infrastructure Partners. |
| Santander | Financial Advisor | Company | Served as financial advisor for Morgan Stanley Infrastructure Partners. |