FIC Partners Management has acquired Perfect Power, the developer, owner, and operator of the Jaguar Energy Center in Texas. Financial terms of the transaction were not disclosed.
The Jaguar Energy Center is a grid-connected battery energy storage and solar platform with up to 1.15 gigawatts of planned capacity across approximately 4,500 acres.
The project supplies electricity into a rapidly growing area of the Electric Reliability Council of Texas market. Perfect Power was established in 2021 and is led by a management team with experience developing and operating renewable energy, battery storage and thermal power projects across the United States.
Under FIC’s ownership, Perfect Power plans to continue expanding the Jaguar Energy Center while pursuing additional opportunities designed to support growing U.S. electricity generation needs.
FIC views the platform as a combination of operating infrastructure and a larger development pipeline in a market benefiting from population growth, industrial expansion and increased data center construction.
The firm also sees strategic value in combining battery storage and renewable generation at an already interconnected site. Co-locating the technologies can help the project store power when production exceeds immediate demand and discharge electricity when the grid needs additional capacity.
Perfect Power focuses on power generation, renewable energy, energy storage, asset development and operational optimization. The company also works with local developers, asset owners and operators.
FIC is a middle-market investment firm focused on critical infrastructure across gas transmission, downstream energy, power and utilities, renewable energy, and data and telecommunications. The firm was formed through the combination of Emerald Bridge Capital and First Infrastructure Capital Advisors.
KEY QUOTES:
“Perfect Power is exactly the type of opportunity we created FIC to pursue, a contracted, in-service infrastructure asset paired with a clear, accretive growth pipeline in one of the most attractive power markets in the country.”
Cay Freihofer, Co-Managing Partner of FIC
“The Texas Triangle is at the center of multi-decade demand growth driven by population demographics, industrial expansion and data center development. Storage and renewables co-located on an already interconnected site provides a strong platform to serve that demand.”
Cyrus Aghili, Co-Managing Partner of FIC
“Perfect Power has been looking forward to partnering with FIC to pursue this renewed growth chapter for our experienced team given our shared vision of scaling a best-in-class power platform.”
Tony Maselli, CEO of Perfect Power
