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ArcLight Energy Partners Fund VII, L.P.

Company Summary

Description

The fund closed with approximately $3.4 billion in commitments. The new fund will continue ArcLight's long history of investing in infrastructure assets in the midstream and power sectors.

Related Entities

Recent news

  • 2/24/2022 - PSEG Completes Sale to... (subscriber access)
  • 8/16/2021 - ArcLight Acquiring... (subscriber access)
  • 2/3/2020 - ArcLight Closes Seventh... (subscriber access)

Company Transactions

Date: 12/31/2021
Type: Acquisition

BUYERS:
  • ArcLight Energy Partners Fund VII, L.P.
  • Parkway Generation
  • Generation Bridge
    • SELLERS:
  • Public Service Enterprise Group
    • DETAILS:

    COST: 1.92 $B

    VOLUMES: 6750 MW

    NOTES:
    ArcLight Energy subsidiaries Parkway Energy & Generation Bridge II have signed a deal with PSEG to acquire its 6,750 MW generation portfolio for $1.92 billion. The deal is scheduled for closing in 4Q21-1Q22 and it includes 13 gas-fired plants across Maryland, New Jersey, New York and Connecticut. The sale marks a pivot away from fossil fuels by PSEG, with this deal accelerating their net-zero climate goal from 2050 to 2030.
    REGIONS:
  • Northeast