ArcLight Acquires Ohio Gas-Fired Power Plant
(P&GJ) — ArcLight Capital Partners has signed definitive agreements to acquire 100% of the economic interests in the Middletown Energy Center, a 484-megawatt natural gas-fired power plant located in Butler County, Ohio.
The plant, which began operations in 2018, is one of the newest combined-cycle natural gas facilities in PJM, the largest wholesale electricity market in the United States. ArcLight is purchasing the asset from a consortium of sellers through a series of transactions. Financial terms were not disclosed. The deal is expected to close in 2025, pending regulatory approvals.
SEE ALSO: Chesapeake, AEP to Build $10 Million Ohio Gas Pipeline for Data-Center Power
ArcLight cited growing regional power needs, driven by industrial growth and data center expansion, as a key factor behind the investment.
“With increasing demand for digital infrastructure, Ohio has emerged as a premier hub for data centers and Middletown Energy Center, with ArcLight's stewardship, stands ready to meet the substantial electric infrastructure needs of this vital sector,” said Angelo Acconcia, Partner at ArcLight.
“Middletown provides reliable and dispatchable power to the PJM market,” said Andrew Brannan, Managing Director at ArcLight. “Reliable and efficient power generation is essential to ensuring continued industrial and data-center related investment in the region, and highly efficient resources such as Middletown are vital to these initiatives.”
ArcLight has a long track record in power infrastructure investment, having owned, controlled, or operated over 65 gigawatts of assets and more than 47,000 miles of electric and gas transmission infrastructure. The firm currently manages what it says is the largest private power infrastructure portfolio in North America.
Latham & Watkins LLP is serving as legal counsel to ArcLight.
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