ArcLight Capital Partners, a private equity firm, agreed to acquire the 6750MW generation portfolio of Public Service Enterprise Group, a publicly traded diversified energy company, for $1.92bn. The transaction is expected to close late in the fourth quarter of 2021 or in the first quarter of 2022. The divestment is in line with PSEG's goal to realize a more predictable earnings profile, and help evolve toward a clean energy infrastructure-focused company that will enable its increasingly low-carbon economy.