What Copia Power does

Copia Power is a U.S. energy transition firm founded in 2021 that develops, builds, owns, and operates gigawatt-scale integrated campuses combining utility-scale solar generation, battery energy storage systems (BESS), dispatchable thermal generation, and grid-connected digital infrastructure (data centers) at strategic high-voltage transmission interconnection points. The company is wholly owned by The Carlyle Group, which committed up to $700 million in equity at launch and has supported the platform with over $5.4 billion in infrastructure financings closed in under two years. Copia's core technical offering is its campus-scale integrated development model, which layers multiple generation technologies and data center load on a single 1+ GW, 25-square-mile site, creating what the company describes as 'infrastructure inertia' that attracts utilities and hyperscalers to the same node.

The company serves three primary customer segments: investor-owned utilities (with Arizona Public Service as the anchor, contracted for 850 MW solar and 3,400 MWh storage across 20-year PPAs), hyperscale data center operators (addressed through bespoke campus-scale power agreements and a 15+ GW digital load pipeline), and Fortune 100 corporate buyers (addressed through 15-year virtual power purchase agreements, with one unnamed Fortune 100 counterparty contracted for 150 MWac). Revenue is generated primarily through long-term, recurring PPAs, VPPAs, and asset ownership of operating solar, storage, and thermal infrastructure; the company also offers purpose-built digital infrastructure hosting for hyperscalers. All commercial terms are bespoke and project-based, with no standardized pricing. Currently, 450 MW solar and 1,200 MWh storage (Harquahala I and II in Arizona) are operational as of April 2025, with Centennial Flats and the Maricopa Energy Center under construction and a 30+ GW generation pipeline in development across six U.S. campuses.

Name

Copia Power

Legal name

Copia Power

Website

https://copiapower.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Copia Power is a Carlyle-backed U.S. energy infrastructure developer that builds and owns gigawatt-scale integrated campuses combining solar, battery storage, thermal generation, and data center digital infrastructure, serving utilities, hyperscalers, and corporate buyers via long-term PPAs in the Western and Midwest U.S.

Ownership category

akta.pro rank

Product category

Renewable Energy Infrastructure Development

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Solar Electric Power Generation (221114), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900), Electrical Work (1731)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Utility-Scale BESS EPC & Integration (EUAEAEAA), Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE), Retail & Community PPAs (Community Solar/Shared Renewables) (EUAGADAC)

Keywords

• Utility-scale solar development
• Battery energy storage systems
• Renewable power purchase agreements
• Gigawatt campus infrastructure
• Hyperscale data center power

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Power Purchase Agreements (PPAs): Copia Power sells long-term renewable energy and capacity through 15–20 year power purchase agreements with utilities (e.g., APS), municipalities, cooperatives, and corporate buyers. Revenue is recurring over the contract term, with offtake volumes tied to solar generation and battery storage capacity.
2. Virtual Power Purchase Agreements (VPPAs): Financial agreements with corporate buyers (Fortune 100 companies) for renewable energy and environmental attributes, typically 15-year terms, selling nameplate capacity and environmental attributes without physical delivery of electrons.
3. Asset Ownership and Operations: Copia develops, constructs, and operates owned infrastructure assets (solar, storage, thermal, digital), generating long-term revenue from contracted offtake agreements and merchant exposure once assets are operational.
4. Data Center Infrastructure Services: Purpose-built digital infrastructure hosting solutions for hyperscalers and large industrial energy consumers, providing dedicated power, fiber, and land within a licensed/campus framework.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Copia Power develops, constructs, owns, and operates gigawatt-scale integrated energy and digital infrastructure campuses in the United States. Each campus co-locates utility-scale solar generation, battery energy storage (BESS), dispatchable thermal generation, and hyperscale data center digital infrastructure on a single site at strategic high-voltage transmission interconnection points. The company monetizes these assets through long-term (15–20 year) physical Power Purchase Agreements with utilities, Virtual Power Purchase Agreements with corporate buyers, and bespoke power supply contracts with hyperscale data center operators.

Product overview

Copia Power is a Carlyle-backed energy and digital infrastructure platform that develops, constructs, and operates campus-scale integrated power and digital assets. The company operates as a unified platform combining four core product lines: Solar Generation (utility-scale PV), Battery Energy Storage Systems (BESS), Thermal Generation (dispatchable natural gas capacity), and Digital Infrastructure (hyperscale data centers). These assets are co-located on gigawatt-scale campuses in strategic locations, with the solar, storage, and thermal products forming the generation layer while digital infrastructure provides the load component. The company has projects across operating (Harquahala 1 & 2), construction (Centennial Flats, Maricopa Energy Center), and development phases (Harquahala 3-5, Solar Prairie), with a total pipeline exceeding 46 GW of generation and 15 GW of digital load capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Generation Utility-scale solar photovoltaic (PV) generation projects developed, constructed, and operated by Copia Power as part of gigawatt-scale energy campuses, with contracted offtake through long-term PPAs to utilities and corporate buyers.
• Battery Energy Storage Systems (BESS) Battery energy storage systems co-located with solar generation on Copia's campuses to store solar energy for evening dispatch, provide grid reliability services, and firm up renewable output for utility and corporate offtake.
• Thermal Generation Dispatchable thermal generation (natural gas) capacity developed by Copia at strategic high-voltage interconnection points to complement intermittent solar and storage resources on its campuses.
• Digital Infrastructure (Hyperscale Data Centers) Purpose-built hyperscale data center campuses co-located with on-site power generation, providing dedicated power, fiber, and land to hyperscalers and large industrial energy consumers.
• Power Purchase Agreements (PPAs)

Quantifiable outcome

• 450 MW solar and 1,200 MWh storage now operational (Harquahala 1 & 2), powering the equivalent of ~201,000 homes annually.
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Monarch Data Center ConsortiumcoreStrategic or Co-development Partner · 4 December 2025Copia Power Devco LLC is proposing the 14-building Monarch Data Center complex in Lyon County's Mason Valley, Nevada, requiring 1,000 MW of power. This project represents Copia's entry into large-scale digital infrastructure partnerships in Nevada.
• Arizona Public Service (APS)coreStrategic or Co-development Partner · 26 October 2022Arizona Public Service Company (APS) is Copia Power's primary utility offtake partner, executing 20-year PPAs for Phase I and Phase II of the Maricopa Energy Center (550 MW solar + 2,200 MWh BESS). APS and Copia have signed cumulative agreements for 850 MW solar and 3,400 MWh storage, making Copia a key supplier in APS's growing renewable portfolio.
• SOLV EnergysupportingImplementation/ SI/ Consulting Partner · 26 October 2022SOLV Energy served as the EPC (Engineering, Procurement, and Construction) contractor for the Harquahala Sun 1 and Sun 2 projects, constructing the solar and battery storage facilities under Copia's development management.
• Birch InfrastructurecoreStrategic or Co-development Partner · 1 September 2022Birch Infrastructure, founded in 2019 by Jim Howell and Kenneth Davies, contributed ~800 MW of contracted renewable energy supply agreements and associated development assets. Birch merged with Copia Power in September 2022, combining platforms to create a leading integrated gigawatt-scale energy and digital infrastructure developer. Jim Howell became President, Strategy at Copia.
• TenaskacoreStrategic or Co-development Partner · 21 July 2021Tenaska contributed an approximately 6 GW U.S. solar and storage development pipeline to Copia Power at launch and continues to work with Carlyle and Copia to develop the portfolio. Tenaska has successfully developed over 11 GW of power generation assets since 1987.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Hecate Energy: Developer of utility-scale solar, storage, and hybrid projects in the U.S. with a multi-GW pipeline. Comparable in development-stage focus and target offtake counterparties, though smaller in scale.
• Aypa Power: Developer and owner of utility-scale energy storage and hybrid renewable projects in North America. Comparable in BESS focus and origination strategy; Copia CCO Mike Ashley previously served as VP of Origination at Aypa Power.

Direct peers

• Arevon Energy: U.S. developer, owner, and operator of utility-scale solar and storage projects with multi-GW pipeline. Directly comparable business model; Copia CFO Brian Callaway previously served as Arevon's CFO.
• SB Energy: U.S. utility-scale solar and storage developer with multi-GW pipeline and operations. Comparable developer/owner model; Copia CIO Arthur Sonnenfeld was a founding member of SB Energy's U.S. platform.
• Avantus (formerly 8minute Solar Energy): U.S. developer of utility-scale solar and storage projects with deep Western U.S. pipeline. Directly comparable in target markets and offtake structures.
• Invenergy: Privately held U.S. developer, owner, and operator of utility-scale renewable energy and storage projects. Comparable business model across solar, storage, and thermal generation; Copia CCO Mike Ashley held origination roles at Invenergy.
• Leeward Renewable Energy: Developer, owner, and operator of utility-scale wind, solar, and storage projects across the U.S. Comparable in IPP/developer business model targeting long-term PPAs with utilities and corporates.
• AES Clean Energy: U.S. utility-scale solar and storage developer with a multi-GW operating and development portfolio. Directly comparable as both companies target IOUs and corporate buyers with long-term PPAs and compete for interconnection rights. Multiple Copia executives (Henger, Archibald, Bean, Galeria, Heath) previously held senior roles at AES Clean Energy/sPower.
• Clearway Energy Group: Owns and operates one of the largest renewable energy portfolios in the U.S., with significant utility-scale solar and storage. Directly comparable as a publicly traded renewable IPP; Copia CIO Arthur Sonnenfeld previously held roles at Clearway/NRG.

Broad incumbents

• NextEra Energy Resources: Largest U.S. renewable energy operator with the world's largest wind and solar portfolio. Comparable as the dominant utility-scale renewable IPP and a benchmark for renewable project valuations and PPA pricing across the U.S.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/copia-power

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Copia Power