ArcLight Teams Up with GE and GIC to Form IPP

27 January 2011 (Last Updated January 27th, 2011 18:30)

ArcLight Capital Partners, GE Energy Financial Services, and the Government of Singapore Investment Corporation, will become partners in five natural gas-fired power plants in Georgia, US. The five power plants together make up the largest fully independent power producer (IPP) in sout

ArcLight Capital Partners, GE Energy Financial Services, and the Government of Singapore Investment Corporation, will become partners in five natural gas-fired power plants in Georgia, US.

The five power plants together make up the largest fully independent power producer (IPP) in southeastern US.

The power plants include a 320MW plant in Monroe, a 450MW station in Walton, a 602MW Washington plant, a 640MW unit in Sandersville and a 515MW plant in Effingham.

GE and GIC will each acquire 24.9% of the portfolio from an affiliate of ArcLight, which will retain a 50% stake.

The closing of the transaction is subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the US.

The plants located throughout Georgia comprise a combined cycle facility and four single-cycle peaking facilities, which would together generate over 2,500MW of power.