ArcLight Capital Partners has completed the acquisition of a 50% interest in IATP, a 5.4 GW portfolio consisting of 11 power infrastructure assets across North America. Invenergy will retain its existing 50% ownership stake and continue serving as operator of the portfolio.
The portfolio includes contracted generation assets alongside near-term recontracting opportunities and potential expansion projects. ArcLight is positioning the assets to serve rapidly increasing electricity demand associated with AI infrastructure, data centers, and broader electrification.
IATP includes several large combined-cycle power facilities, including Grays Harbor Energy Center in Washington, Nelson Energy Center in Illinois, Lackawanna Energy Center in Pennsylvania, and St. Clair Energy Centre in Ontario.
ArcLight plans to work alongside Invenergy to pursue recontracting opportunities and targeted expansions that could increase the portfolio’s ability to supply reliable, dispatchable power.
The acquisition also expands ArcLight’s already significant North American energy infrastructure holdings. Since 2001, the firm 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.
ArcLight also operates an 85-person power development organization with a development pipeline exceeding 15 GW, which it plans to use to address electricity demand associated with AI, data centers, and electrification.
Support: Morgan Stanley served as financial adviser to ArcLight.
KEY QUOTES:
“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. IATP adds a significant portfolio of essential, dispatchable generation alongside a highly experienced partner in Invenergy.”
Angelo Acconcia, Managing Partner of ArcLight
“IATP offers an attractive combination of contracted revenue, geographic diversification, and tangible growth opportunities. 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.”
Andrew Brannan, Managing Director of ArcLight
