ArcLight Capital raises US$3.3 billion for new investment fund
TAS Geothermal-to-Power unit at the Beowave geothermal power plant in Nevada (source: TAS Energy)
Alexander Richter
11 Nov 2011
Terra-Gen Power a renewable energy player with about 400 MW in geothermal power generation capacity might get some funds out of the recent capital raising of its mother company ArcLight Capital Partners for a new energy investment fund.
ArcLight Capital Partners, a private equity firm announced earlier this month that it has raised US$3.3 billion for a new investment fund focused on energy-related businesses.
The comapny invests in business across a range of industry sectors, including renewable energy producers. Terra-Gen Power is a subsidiary of ArcLight Capital Partners and currently runs currently 387 MW in geothermal power generation capacity at 5 geothermal power plants in Nevada and California.
Terra-Gen Power plans to expand operations in renewable generation through a combination of acquisition of operating projects, development of new projects and partnering on mid- and late-stage development projects.
So having a strong mother company could mean some money will come to work for Terra-Gen’s geothermal activities.
Source: Smart Energy News
