Forest Road Renewables, a climate-focused infrastructure platform within The Forest Road Co., has made a $36 million strategic investment in Pathway Power LLC, a renewable energy and battery storage developer.
The funding will enable Pathway Power to continue scaling its portfolio of clean energy projects built to deliver over 2 GW across North America.
Pathway Power will target a balance of solar and storage opportunities across various markets. Pathway Power’s founding management team are pioneers in renewables development having previously led BayWa r.e., where they amassed a pipeline of over 6 GW of utility scale solar and storage assets throughout North America and delivered over 1 GW to the market.
“With solar energy capacity poised to quadruple by the end of the decade, Pathway Power will build on this momentum to deliver utility-scale solar, storage, and hybrid assets to the market,” says Pathway Power Managing Partner Jam Attari. “We appreciate Forest Road’s confidence in our team and will continue to execute on our strategy of developing a portfolio that will help to drive the next stage of the renewable market’s evolution.”
“The Pathway Power partnership is the latest example of our ability to offer highly efficient, flexible, and creative capital solutions across the renewable energy ecosystem,” states Dan Rittenhouse, head of Forest Road Renewables. “We are thrilled to be a core partner in Pathway Power’s growth plans and look forward to advancing the proliferation of renewable energy alongside this experienced management team.”