The US-based private equity firm ArcLight Capital Partners, which specializes in energy and infrastructure investments, has acquired the US power developer Advanced Power as part of a plan to build 20Â GW of natural gas-fired power plants across the United States primarily to supply energy-hungry data centres. The company intends to invest approximately US$5bn over the next five years and has already committed an initial US$1bn in equity to develop new power infrastructure.
ArcLight estimates that the new gas plants could be brought online within 2 to 7 years. It also plans to develop solar and battery storage projects, with a focus on power grids stretching from the East Coast to the Midwest, Texas, and the desert Southwest.
ArcLight currently operates a 26Â GW power portfolio and has expertise across conventional power, renewables, battery storage, transmission, gas infrastructure, and digital power systems. Advanced Power adds to the partnership more than 12Â GW of late-stage power projects and over 10Â GWh of energy storage capacity across the United States. ArcLight declined to disclose the purchase price for privately held Advanced Power.