First State Investments, a private equity firm, agreed to acquire a 40% stake in Terra-Gen, a developer and operator of energy solutions, from Energy Capital Partners, a private equity firm. Financial terms were not disclosed. "California is undergoing a transformation of its power generation resources from a majority of natural gas plants to renewables and battery storage, driven by ambitious energy and environmental policy initiatives. As a leading infrastructure investor, FSI is committed to working with us to help realize Terra-Gen's growth opportunities," Jim Pagano, Terra-Gen CEO.