Advanced Power: Partnership With ArcLight to Invest $5 Billion in Power Development

ArcLight Capital Partners has acquired Advanced Power and committed $1 billion to enhance power infrastructure. This partnership aims to deploy over $5 billion in equity over five years to instate over 20 gigawatts of new power, supporting North America's AI and data center expansion. Their collaboration will form a major power infrastructure solutions platform that addresses burgeoning capacity needs, ensuring faster delivery of low-carbon power infrastructure to utilities and data center developers. Expected to create up to 80,000 jobs, the partnership leverages Advanced Power's project prowess, including 12 GW of conventional and renewable projects and 10 GWh of energy storage, with ArcLight's vast 26 GW power portfolio. This endeavor presents a significant potential to accelerate energy solutions crucial for modern electrification and AI needs. ArcLight boasts an extensive track record with over 65 GW of assets managed since 2001. Financial specifics of the deal remain undisclosed, but Latham & Watkins LLP and Sidley Austin LLP are key legal advisors involved. This initiative signals a transformative leap for energy infrastructure catering to the futuristic electrification credentials required by AI and data centers.