Energy Central Professional

 

ArcLight affiliate agrees to buy 185MW wind portfolio in US


MarketLine  

 

    ArcLight Capital Partners' affiliate Sequitur Renewables has agreed to acquire an operating wind farm portfolio in Pennsylvania and West Virginia, US.

    The company reached an agreement with affiliates of GlidePath Power Solutions to buy the portfolio.

    The portfolio consists of five wind farms with a combined capacity of 185MW and sells power and renewable energy credits into the merchant PJM market.

    ArcLight partner Carter Ward said: "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."

    Sequitur is also purchasing 80MWh worth of battery energy storage (BESS) development opportunities from GlidePath alongside the wind portfolio.

    The financial details of both deals have not been disclosed.

    GlidePath CEO Chris McKissack said: "Arclight's long history of wind operations will bring great value to these wind farms and will allow GlidePath's team and investors to focus on our core business of deploying and operating energy storage projects."

    ArcLight's affiliates recently achieved development milestones for two BESS projects located in the US.

    These were the 335MWh Long Beach Pier S in Long Beach, California, and Luyster Creek in New York, New York, which has 540MWh of capacity.

    ArcLight managing partner Dan Revers said: "The Sequitur acquisition and BESS development opportunities leverage ArcLight's core expertise in power generation, renewables and energy transition."

    Based in Boston, Massachusetts, ArcLight is a private equity firm that focuses on energy and energy transition infrastructure.

    Earlier this year, affiliates of the company awarded service contracts to Consolidated Asset Management Services (CAMS) for their 10GW portfolio.

    Under the terms of the agreement, CAMS will provide operations and maintenance and asset management services for the power projects.

    ArcLight noted that the power generating assets are diversified across markets and could allow renewable resources to be integrated in the future.

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