PE Deals

ArcLight Capital to acquire power plant owner Kleen

The seller is Sojitz Corporation of America.

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  • The transaction is expected to close in the fourth quarter of 2023
  • Latham & Watkins LLP is serving as legal counsel to ArcLight while Mintz is serving as legal counsel to Sojitz
  • Based in Boston, ArcLight was founded in 2001

ArcLight Capital has agreed to acquire an ownership stake in Middletown, Connecticut-based Kleen, an owner of a natural gas-fired power plant. The seller is Sojitz Corporation of America.

“Kleen builds upon ArcLight’s focus on the electrification mega trend and on supporting the energy grid of the future, which we expect to include a complementary mix of renewable resources and reliable, low carbon power infrastructure,” said Dan Revers, managing partner and founder of ArcLight in a statement. “The high-quality asset provides critical infrastructure and grid stability services as one of the core power suppliers in the New England market.”

The transaction is expected to close in the fourth quarter of 2023.

Latham & Watkins LLP is serving as legal counsel to ArcLight while Mintz is serving as legal counsel to Sojitz.

Based in Boston, ArcLight was founded in 2001.