Axium Infrastructure has announced it has sold its 49% interest in Morongo Transmission LLC, a joint venture managing the leasehold interest in 62% of the transfer capacity for the West of Devers Upgrade Project, to its partner, the Morongo Band of Mission Indians. Axium had originally invested in this project, which increased capacity from Palm Springs to the Los Angeles basin from 1.6GW to 4.8GW, in March 2019 with commercial operations commencing in 2021. This project has been pivotal to California’s renewable energy goals, which target 50% renewable electricity by 2025, 60% by 2030, and 100% by 2045.

Infrastructure, Renewable Energy, Private Equity,United States

JULY 3, 2024 – AXIUM INFRASTRUCTURE SELLS ITS INTEREST IN THE COACHELLA PROJECT TO ITS PARTNER THE MORONGO BAND OF MISSION INDIANS