Arclight Capital Partners is acquiring a 940MW combined-cycle gas-turbine power plant located in Ohio from a Asset Management-managed Americas infrastructure fund.
Macquarie Infrastructure Partners III β which acquired the Lordstown Energy Center as part of a consortium in April 2016, before the commencement of plant construction and commencement of operations in October 2018 β said it has decided to sell the asset to an affiliate of Arclight without disclosing any financial information.
ArcLight said its affiliate Alpha Generation will manage Lordstown following the closing of the deal.
Lordstown supplies energy and capacity to the Pennsylvania/New Jersey/Maryland (PJM) market.
Karl Kuchel, CEO of Macquarie Infrastructure Partners, said: βWe are very proud to have supported the successful construction of the Lordstown plant and then partnered with the management team to ensure the safe delivery of reliable energy to Ohio and the broader PJM market over the last five and a half years.β
Dan Revers, managing partner at ArcLight Capital Partners, said: βWe expect Lordstown to play a critical role in providing reliable and affordable power to a tightening market experiencing significant demand growth driven by electrification and the proliferation of data centers.
βHighly efficient resources such as Lordstown are vital to the integration of renewable energy resources and ensuring the progression of the clean energy transition.β
Andrew Brannan, managing director at ArcLight Capital Partners, said: βArcLight is excited to announce this strategic investment as part of our continued value-added strategy targeting electrification infrastructure, including renewables, battery storage and low-carbon power infrastructure.
βArcLight and AlphaGen are focused on positioning Lordstown to support and benefit from a sustainable, durable transition to a low-carbon future.β
Mike Bruneau, EVP of corporate development and strategy at AlphaGen, said: βAlphaGen looks forward to including the high quality Lordstown facility in its managed portfolio of flexible gas-fired generation critical to an effective clean energy transition.
βWith this addition, our footprint increases to nearly 14GW of power infrastructure, further broadening our market exposure to a region experiencing high load growth. We are eager to continue our active participation in the ongoing PJM market transition.β
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