Copia Locks $595 Million Tax Equity for Centennial Flats Project

Copia Power, an energy platform backed by Carlyle, said it closed a $595 million tax equity commitment with J.P. Morgan as the sole tax equity investor to finance Centennial Flats, a utility scale solar and storage development sited in La Paz County. The announcement on December 17, 2025 marks a major financing and construction milestone for the project, which is being built in three phases with expected completion milestones through 2026.

The Centennial Flats project will deliver 500 megawatts of solar generation capacity paired with 1,069 megawatt hours of battery energy storage. Copia reported mechanical completion progress at the site and thanked its construction and finance partners as work continues toward commissioning. Transaction counsel and advisors named in the company statement included McDermott, Will & Emery as sponsor counsel and Milbank as tax equity counsel, along with local counsel and additional advisors.

For La Paz County the development represents one of the largest utility scale energy investments in recent local memory. During construction the project will generate demand for local services, temporary construction employment, and supply chain activity tied to equipment delivery and site support. Over the longer term the facility will add substantial generation and storage capacity to the regional grid footprint, factors that county planners and economic development officials will weigh in land use and permitting decisions.

From a market perspective the deal underscores the continued role of tax equity financing in enabling large scale renewable projects, and the appetite of major financial institutions to back combined solar and battery developments. For local residents the immediate effects will include construction traffic and contracting opportunities, while lasting impacts will center on how the county integrates a multi phase energy complex into land use plans and regional infrastructure.

As Copia moves Centennial Flats toward its 2026 milestones, county authorities and local businesses will need to coordinate on permitting, workforce placement, and supply chain logistics to capture the economic benefits and manage the changes associated with a large scale clean energy installation in La Paz County.