ArcLight Capital Partners, a private equity firm, completed the acquisition of the fossil generating portfolio from Public Service Enterprise Group, an energy company with a diverse business mix, for $1.92bn. "This sale marks a key milestone in the Strategic Alternatives process we initiated in July 2020 and positions us to continue to grow our regulated utility, PSE&G, complemented with more predictable carbon-free generation and infrastructure," Ralph Izzo, PSEG Chairman, President and CEO.