Ara Partners, a global private markets firm focused on industrial decarbonization, has announced that Ara Energy is acquiring Gate City Power, Gate City Renewable Fuels and an interest in the JET retail network for approximately $875 million. The transaction will be financed with equity from funds and co-investment vehicles managed by Ara and its affiliates.
The acquisition advances Ara's Energy strategy to commercially optimize and decarbonize critical energy infrastructure across North America and Europe through targeted operational improvements, technology and fuel transitions and disciplined capital deployment, while enhancing terminal value through economic decarbonization.
Portfolio at a glance:
Gate City Power: thermal generation assets across NYISO and ISO‑NE totaling about 2.2 gigawatts of capacity.
Gate City Renewable Fuels: U.S. ethanol production assets totaling approximately 400 million gallons per year.
JET network: Nearly
