ArcLight Capital Partners, LLC (with its affiliates ArcLight) announced its managed fund has entered into definitive purchase agreements with Osaka Gas USA Corporation and Kyuden International Americas Inc. to acquire their indirect common equity ownership interests in Kleen Energy Systems, LLC (Kleen Power).
Kleen Power is a top decile, 620 MW natural gas-fired power generation asset in the New England market. The company is well positioned to benefit from AI and electrification-related power demand and provide reliable power and related services to the grid.
The converging investment mega trends of AI-driven data center development and electrification (through the acceleration of EV adoption and heating electrification) are creating unprecedented power demand growth and infrastructure needs, increasing the importance of being able to provide large scale, customized, sustainable, and affordable power infrastructure solutions.
Since 2001, ArcLight has owned, controlled, or operated over 65 GW of assets and 47,000 miles of electric and gas transmission infrastructure with $80 billion of enterprise value. With its suite of internal operational and technical resources, ArcLight believes it is well positioned to deliver the electric infrastructure solutions required by AI and data center power demand.
The transaction is expected to close in 2025, subject to regulatory approvals.
Courtesy ArcLight Capital Partners, LLC