BOSTON, MASSACHUSETTS – March 1, 2021
Yesterday, Generation Bridge, a wholly-owned subsidiary of ArcLight Energy Partners Fund VII, L.P. (“ArcLight”) entered into a definitive purchase agreement with NRG Energy, Inc. (“NRG”) to acquire approximately 4,850 MWs of generating assets in NRG’s East and West regions of operations for total proceeds of $760 million, subject to a working capital and certain other customary purchase price adjustments. Generation Bridge is targeting closing the transaction in the fourth quarter of 2021. Milbank LLP is serving as primary legal counsel and Credit Suisse is serving as financial advisor to ArcLight.
About ArcLight
ArcLight Capital Partners, LLC is one of the leading infrastructure firms focused on North American energy assets. ArcLight has invested over $23 billion in 111 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm’s ~1,500-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight’s portfolio companies, can be found at www.arclight.com.
