Torch Clean Energy Announces Strategic Partnership with Morgan Stanley Infrastructure Partners

Morgan Stanley Infrastructure Partners (MSIP) and Torch Clean Energy (Torch or the Company), a premier U.S.-based utility-scale solar and storage developer, announced a strategic partnership to expand and transition the Torch platform. MSIP will make a strategic investment in Torch, enabling it to transition from a development platform to an integrated clean power platform with capabilities across development, construction and asset management.

Torch has a demonstrated track record of success, having originated, developed, and sold more than 1.2 gigawatts of renewable power assets in its core markets since its founding. The Company has cultivated close offtaker relationships and has developed a strategic approach to siting and interconnection. Torch has developed deep expertise developing projects throughout the United States, including in two key attractive markets: the Mid-Atlantic (including Virginia), a demand hub for data centers, and the desert Southwest, which has a strong solar resource. Torch believes it is well-positioned to benefit from tailwinds across these two regions given its incumbent position, longstanding relationships and development expertise in markets with a growing need for power.

Jonathan Kilberg, CEO of Torch Clean Energy, said: “We are excited to partner with Morgan Stanley Infrastructure Partners. This partnership gives us the resources and support to scale our operations, enhance our capabilities and continue to deliver real value to our customers. Together, we’re focused on driving innovation, improving efficiency, and meeting the rising demand for clean, reliable energy and capacity.”

Torch’s partnership with MSIP allows the Company to expand upon its value offering to customers as an integrated development and operating platform. MSIP will support the Company’s build-out of construction and operations management, procurement and project finance capabilities, leveraging MSIP’s network and platform resources. This evolution will allow Torch to expand its value offering to customers as an integrated independent power producer.

“We are thrilled to partner with the Torch team through this strategic investment that will support the next phase of their journey, transitioning into an integrated renewable power business,” said Chris Ortega, Head of Americas for MSIP. “We believe Torch is well-positioned to benefit from the industry tailwinds of electrification and data center demand through its differentiated strategy of siting high-value contracted projects in growing markets.”

Latham & Watkins LLP served as legal counsel for Torch Clean Energy, with KeyBanc Capital Markets serving as financial advisor. Simpson Thacher & Bartlett LLP served as legal counsel for MSIP, with Santander serving as financial advisor.

Torch Clean Energy | www.torchcleanenergy.com

Morgan Stanley Infrastructure Partners | www.morganstanley.com/im/infrastructurepartners