Our Work
Latham & Watkins Advises ArcLight Capital Partners in US$1.92 Billion Acquisition of PSEG’s Fossil Generating Portfolio
August 12, 2021
Members of the M&A and Project Development & Finance Practices are advising the private equity firm focused on energy infrastructure investments.
Public Service Enterprise Group (PSEG) has announced that it has entered into an agreement to sell its 6,750-megawatt fossil generating portfolio to newly formed subsidiaries of ArcLight Energy Partners Fund VII, L.P., a fund controlled by ArcLight Capital Partners, LLC for aggregate consideration of approximately US$1.92 billion, subject to customary adjustments, and is expected to be completed late in the fourth quarter of 2021 or the first quarter of 2022.
Latham & Watkins LLP represents ArcLight in the transaction with a corporate deal team led by New York partners David Allinson and Jane Greyf, with associate Molly Ryan. New York partners Chirag Dedania and Warren Lilien advised on project development and finance matters.