Copenhagen Infrastructure Partners (CIP), through its fifth flagship fund, CI V, and EDF power solutions North America, today announced that CIP has acquired full ownership of the 1 gigawatt hour (GWh) Beehive Battery Energy Storage System (BESS).
Beehive is a 250 MW / 4-hour duration (1,000 MWh) storage project located in Peoria, Arizona. Following commencement of construction earlier this year by EDF power solutions, CIP will manage the project through the remainder of construction, with commercial operation expected in the first half of 2026.
The project has a 20-year tolling agreement with Arizona Public Service Company (APS), the largest energy company in Arizona, serving approximately 1.4 million homes and businesses in 11 of the state’s 15 counties. Beehive is designed to receive energy from the power grid during periods of high renewable penetration, store it in a series of batteries, and discharge electricity back into the power grid at peak demand hours. The BESS thereby supports APS in managing its growing energy and capacity demand.
'With electricity demand rapidly increasing in the Southwest, we anticipate battery storage will play a critical role in powering innovation and economic growth,' said Tim Evans, Partner and Head of North America at CIP. 'Beehive will provide reliable energy and grid services to customers in Arizona and build on CIP’s track record of developing, constructing, and operating energy infrastructure investments across the country. We are pleased to have worked with the EDF power solutions team.'
The project marks EDF power solutions' second stand-alone energy storage project, underscoring its commitment to innovation and the expansion of expertise in BESS technology. As a vital complement to its core renewable generation business, energy storage has gained increasing importance in EDF power solutions’ portfolio reinforcing the company’s dedication to maximizing the potential of renewable energy and accelerating the energy transition, ultimately contributing to the decarbonization of the economy.
'EDF power solutions actively seeks partnerships across all stages of a project’s lifecycle, with an eye toward both optimizing our portfolio and maximizing value creation,' said Ryan Pfaff, Executive Vice President, Grid and Distribution-Scale Power at EDF power solutions North America. 'We value the opportunity to collaborate with CIP on the Beehive project and look forward to working with CIP to ensure the successful completion of this critical large-scale energy storage system to support Arizona’s grid during peak hours.'
EDF power solutions is committed to delivering reliable and affordable low-carbon solutions to meet customers’ carbon-reduction goals while reinforcing American energy dominance. With over 35 years of experience and 23 gigawatts of wind, solar, and storage projects developed, EDF power solutions offers integrated energy solutions ranging from grid-scale power to electric vehicle charging, ensuring a sustainable and resilient energy future for all.
CI V reached final close in March 2025 and exceeded the target of USD 14 billion (EUR 12 billion). The fund invests in energy infrastructure across a range of power generation technologies in North America, Europe, and Asia Pacific, and has a total potential commitment of approximately USD 27 billion (EUR 24 billion).
About CIP
Founded in 2012, CIP today is the world’s largest dedicated fund manager within greenfield energy investments. The funds managed by CIP focus on investments in storage, solar PV, wind, biomass and energy-from-waste, transmission and distribution, reserve capacity, advanced bioenergy, and Power-to-X.
CIP manages 13 funds and has to date raised approximately USD 37 billion (EUR 32 billion) for investments in energy and associated infrastructure from approximately 180 international institutional investors. CIP has projects in more than 30 countries and more than 2,500 employees across platforms. For more information, visit www.cip.com.
Source: CIP
