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