CIP secures 250 MW/1,000 MWh Beehive project in Peoria, Arizona, marking a major U.S. storage expansion.
Backed by a 20-year contract with Arizona Public Service, ensuring long-term revenue stability.
Acquisition underscores CIP’s $27 billion global energy strategy with a sharpened focus on storage.
Copenhagen Infrastructure Partners (CIP), through its CI V fund, has acquired the Beehive Battery Energy Storage System (BESS) from EDF Power Solutions North America. The 250-megawatt facility with four-hour duration—equal to 1,000 megawatt-hours—is already under construction in Peoria, Arizona, and is scheduled to begin operations in the first half of 2026.
The project is underpinned by a 20-year contract with Arizona Public Service Company (APS), the state’s largest utility, which serves 1.4 million customers across 11 of Arizona’s 15 counties. The storage system is designed to absorb energy during peak renewable generation and release it when demand surges, helping balance the grid and manage rising consumption.
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For EDF, Beehive represents its second standalone storage project in the U.S. and adds to a portfolio of more than 23 gigawatts of renewable and storage developments. CIP, meanwhile, is building a significant storage footprint as part of its global energy transition strategy.
The CI V fund closed in March 2025 with over $14 billion raised—well above target—and capacity to deploy about $27 billion worldwide. The Beehive acquisition reflects that strategy, with storage singled out as a priority investment area.
As large-scale storage systems become more prevalent, the project highlights how utilities and investors are reshaping business models to handle an increasingly renewable-powered U.S. electricity sector.
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