ArcLight Capital Partners, an investor in power and energy infrastructure, said its fund has completed the acquisition of a 50% stake in IATP, a large-scale, 5.4-GW power portfolio comprising 11 power infrastructure assets located across North America. Invenergy will retain its existing 50% ownership interest and operational role in IATP.
IATP combines a substantial base of contracted revenue with near-term recontracting opportunities and potential expansion projects, positioning it to serve growing electricity demand driven by artificial intelligence (AI), data centers and the broader electrification of the economy, and the increasing need for reliable, dispatchable generation. The portfolio includes several highly efficient combined-cycle facilities: Grays Harbor Energy Center in Washington, Nelson Energy Center in Illinois, Lackawanna Energy Center in Pennsylvania, and St. Clair Energy Centre in Ontario, Canada.
“ArcLight has spent 25 years building, connecting and operating the critical power infrastructure that North America’s grid depends on, and today we are at the forefront of delivering the generation needed to power AI and the broader electrification of the economy,” said Angelo Acconcia, managing partner of ArcLight. “IATP adds a significant portfolio of essential, dispatchable generation alongside a highly experienced partner in Invenergy. Together, we believe we can apply our complementary expertise to create long-term value while bringing reliable, affordable power to market at the speed and scale our customers require.”
“IATP offers an attractive combination of contracted revenue, geographic diversification, and tangible growth opportunities,” said Andrew Brannan, managing director of ArcLight. “Working alongside Invenergy, our focus will be on capturing near-term recontracting opportunities and advancing targeted expansion projects that build on the portfolio’s strong operating foundation and help meet the growing need for reliable, dispatchable power across North America.”
ArcLight since 2001 has owned, controlled, or operated more than 70 GW of assets and 48,000 miles of electric and gas transmission and storage infrastructure, representing more than $90 billion of enterprise value. The firm operates one of the largest private power generation portfolios and development pipelines in North America, supported by an integrated platform of strategic, technical, operational, and commercial specialists, including an 85-person power development organization with a pipeline exceeding 15 GW. ArcLight believes this integrated platform positions it to deliver the power infrastructure solutions required by AI, data center and electrification-driven demand.
Financial terms of the private transaction were not disclosed. Morgan Stanley & Co. LLC acted as financial advisor to ArcLight.
—This content was contributed by the communications team for ArcLight.
