California’s Pathway Power Raises $36 Million from The Forest Road Company

Forest Road Renewables, a climate-focused infrastructure platform within financing firm The Forest Road Company, has announced a $36 million strategic investment in Pathway Power, a battery storage developer based in California. With the funding, Pathway Power will expand its portfolio of clean energy projects, which was designed to produce over 2 GW of energy across North America.

Pathway Power will focus on a variety of markets with a balance of solar and storage opportunities. This is the most recent in a line of clean energy investments that acknowledges the urgency of the climate problem and the strain on the US power system in the context of the present geopolitical environment, with solar energy capacity set to triple by the end of the decade. Pathway Power’s founding management team claims to be 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.

According to Jam Attari, Managing Partner of Pathway Power, “Solar energy capacity is expected to treble by the end of the decade. Pathway Power will capitalise on this momentum to bring utility-scale solar, storage, and hybrid assets to the market. We value Forest Road’s trust in our group and will keep pursuing our plan to build a portfolio that will advance the development of the renewable energy market.”

According to Dan Rittenhouse, Head of Forest Road Renewables, “The Pathway Power partnership is the latest example of our ability to offer highly efficient, flexible, and innovative capital solutions across the renewable energy ecosystem.”

“We are delighted to be a key partner in Pathway Power’s growth plans and look forward to promoting the adoption of renewable energy with this seasoned management team,” the company said.