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.