Announced
Completed
Financials
Tags
Single Bidder
Domestic
United States
Private
Private Equity
Acquisition
fossil fuels
Majority
Friendly
Integrated Oil and Gas
Completed
Synopsis
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.
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