Boston, MA (October 29, 2009) - ArcLight Capital Partners, LLC ("ArcLight") announced it has reached a definitive agreement whereby affiliates of Global Infrastructure Partners, LLC ("GIP"), will acquire up to 40% of Terra-Gen Power Holdings, LLC ("Terra-Gen"), an affiliate of ArcLight.
Terra-Gen is a leading renewable energy company that develops, owns, and operates renewable power plant projects. Terra-Gen currently owns over 800 MW of geothermal, wind and solar power generation projects. In addition, the company has over 5,000 MW of renewable energy projects under development in premier, renewable resource areas in the United States.
Dan Revers, Managing Partner at ArcLight, added: "Over the past two years, Terra-Gen has become a leading renewable power company in the United States. Terra-Gen has a strong base of operating projects, a world class management team, and a deep pipeline of attractive renewable power projects. ArcLight is thrilled to welcome GIP as a value-added partner that can significantly expand Terra-Gen’s capital base to take advantage of the unprecedented opportunity in renewable power. GIP’s experience and expertise in the power sector, along with its operational focus will help maximize the value of Terra-Gen’s existing asset base and future growth plans."
The CEO of Terra-Gen, Jim Pagano, believes that "GIP’s experience in the power sector will be invaluable as we implement our business plan, prioritizing construction and development of the most productive renewable resources available."
The transaction with GIP, subject to certain regulatory approvals and consents, is anticipated to close in the fourth quarter of 2009. Citigroup, Inc. acted as financial advisor to ArcLight.
About ArcLight Capital Partners, LLC
ArcLight is one of the world's leading energy investment firms with more than $6.8 billion under management. ArcLight's investment team has extensive energy investing experience, industry relationships, and asset level knowledge. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at http://www.arclightcapital.com
Contact: Jim Pagano, Chairman, President & CEO Contact: Daniel Revers, Managing Partner &
John O'Connor, Chief Financial Officer Co-Founder
Phone: (646) 829-3900 Robb Turner, Senior Partner &
Email: email@example.com Co-Founder
Website: www.terra-genpower.com Heidi Milne, Principal, Investor Relations
Phone: (617) 531-6300