Global investment manager AMP Capital has entered into a 50/50 partnership with Invenergy Clean Power (ICP) to invest in Invenergy’s operating and development portfolio of natural gas-fired power generation facilities across the United States, Canada and Mexico.
The investment provides AMP Capital access to one of the largest privately held gas-fired generation portfolios in the United States and an opportunity to invest in a low-emissions generation fleet with scale. The operating and development projects are diversified across multiple North American power markets, contract counterparties and technologies.
AMP Capital and ICP will share joint ownership and governance of the new partnership, Invenergy AMPCI Thermal Power Holdings, while ICP will maintain day-to-day management of the business. ICP is an affiliate of Invenergy, an independent Chicago-based developer, owner and operator of power generation facilities internationally.
The portfolio is comprised of seven operating plants with net capacity of 2,680 megawatts in the United States and Canada, one facility under construction in Pennsylvania, and two late-stage development projects in Mexico. It also includes an extensive early to mid-stage development pipeline in the United States and Mexico.
The portfolio investment has been made on behalf of investors in AMP Capital’s global infrastructure equity strategy. AMP Capital’s U.S. infrastructure equity investments include Midwest fiber optics provider Everstream, the intermodal logistics company ITS ConGlobal, Chicago’s Millennium Garages, and Capistrano Wind Partners. AMP Capital currently has more than 40 employees based in offices in New York, Chicago and Orange County, Calif.
