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    ArcLight to Acquire Operating PJM Windfarms


    August 17, 2022 - Mergers & Acquisitions Daily News

     

      2022 AUG 16 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- ArcLight Capital Partners, LLC (“ArcLight”) announced their affiliate, Sequitur Renewables, LLC (“Sequitur”), has entered into an agreement with affiliates of GlidePath Power Solutions LLC (“GlidePath”) to acquire five operating wind farms in Pennsylvania and West Virginia (the “Portfolio”). The Portfolio, totaling 185MW of operating capacity, sells power and renewable energy credits into the merchant PJM market. Sequitur is also acquiring 80MWh of battery energy storage (“BESS”) development opportunities adjunct to the Portfolio from GlidePath. Closing is subject to customary conditions.

      “ArcLight is excited to re-enter the wind market through the establishment of the Sequitur platform. This platform follows prior domestic wind-focused investments in Leeward Renewables, Terra-Gen Power and CPV Wind,” said Carter Ward, Partner at ArcLight.

      Affiliates of ArcLight recently announced development milestones associated with the 335MWh Long Beach Pier S BESS project in Long Beach, California and the 540MWh Luyster Creek BESS project in New York, New York.

      “The Sequitur acquisition and BESS development opportunities leverage ArcLight’s core expertise in power generation, renewables and energy transition,” said Dan Revers, Managing Partner at ArcLight.

      “Arclight’s long history of wind operations will bring great value to these wind farms,” said Chris McKissack, Chief Executive Officer of GlidePath, who continued, “and will allow GlidePath’s team and investors to focus on our core business of deploying and operating energy storage projects.”

      (Our reports deliver fact-based news of research and discoveries from around the world.)

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