EQT announced that EQT Transition Infrastructure has agreed to acquire Scale Microgrids from Huaping Investment and other existing shareholders. Scale Microgrids is a developer, acquirer, owner, and operator that provides microgrids and distributed energy resources to commercial and industrial, electric vehicle fleets, data centers, municipal, university, hospital, and agricultural customers, developers, and communities.

Scale is headquartered in Ridgewood, New Jersey, and its investment portfolio includes approximately 250 megawatts of operating and under construction assets, with an additional 2.5 gigawatts planned for the near future. Scale has deployed various technologies, including solar energy, battery storage, natural gas generators, fuel cells, and cogeneration, and its investment portfolio is one of the largest pure microgrid investment portfolios in the United States.

This transaction is the first North American investment in EQT's recently launched "Transition Infrastructure" strategy, which aims to expand business scale and drive the transition to a clean energy and resource efficient circular economy. In December 2024, EQT announced the launch of this strategy and made its first investment in battery energy storage system developers and operators niz Energy。

Scale Microgrids CEO Ryan Goodman said, "Today marks an exciting new chapter for our company. EQT brings rich experience, resources, and capital, which will enable us to continue pursuing our vision of powering the world with distributed energy. I am immensely proud of the achievements our team has made and believe that this transaction will enable us to bring more opportunities to our customers, employees, and the communities we serve

This transaction must meet the standard conditions and obtain approval.

EQT's consultants include Weil, Gotshal&Manges (legal) and Guggenheim Securities (finance). Scale Microgrids' advisors include Latham&Watkins (legal), Nomura Greentech (finance), and Truist Securities (finance).