Infrastructure investor ArcLight Capital Partners has formed a new business, Alpha Generation (AlphaGen), to manage its power infrastructure portfolio in the US.
AlphaGen will be in charge of the strategic management and supervision of its power infrastructure portfolio, which generates $2bn in annual revenue.
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It will supervise strategic, commercial and operational activities for ArcLight’s funds’ power infrastructure portfolio and assets.
The portfolio is among the largest in the nation and comprises low-cost, low-carbon assets that are strategically located.
The assets are essential in supplying power to critical demand centres, particularly in the New York, New Jersey and Connecticut tri-state area.
ArcLight managing partner Dan Revers stated: “The creation of AlphaGen builds on ArcLight’s leading position as a proven and experienced power infrastructure investor.
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By GlobalData“We believe power infrastructure will play an increasingly critical and necessary long-term role as demand increases on the back of electrification, data centre growth and AI [artificial intelligencce], amongst other things.
“To help support this growth and create value, we have brought together an industry-leading team with a proven track record of strategic, operational and commercial experience overseeing and operating power generation assets.”
The leadership of AlphaGen will be under the guidance of Curt Morgan, appointed as CEO and chairman. His tenure will begin in May 2024.
Morgan previously served as Vistra’s CEO where he led the company’s transformation into a key power producer and retailer.
Morgan said: “I am excited to partner with ArcLight, one of the leading domestic infrastructure investors. We believe AlphaGen’s infrastructure is well-positioned to deliver safe, reliable and critical power to meet current and increasing demand.
“I look forward to working with Mark, Mary Anne and the rest of the leadership team to help drive value, mitigate risk and capitalise on new investment opportunities, which a portfolio such as this is likely to create.”
In July 2023, ArcLight acquired the commercial distributed generation business of US utility Duke Energy for $364m.
