ArcLight Capital Partners acquires interest in Kleen Energy Systems
Transactions - AUGUST 14, 2023

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ArcLight Capital Partners acquires interest in Kleen Energy Systems

by Kali Persall

An ArcLight Capital Partners affiliate recently entered into a definitive purchase agreement to acquire a 100 percent preferred equity and a minority common equity ownership interest in Kleen Energy Systems from Sojitz Corporation of America. Financial terms of the private transaction were not disclosed.

Kleen is one of New England's newest and most efficient natural gas combined-cycle plants, providing critical capacity, energy and ancillary services. The company owns a 620-megawatt natural gas-fired power plant in Middletown, Conn. Kleen benefits from stable cash flows under a capacity supply agreement with Connecticut Light & Power, as well as an advantaged market heat rate and dual fuel capability that allows reliable, dispatchable output into the New England market.

“Kleen builds upon ArcLight’s focus on the electrification megatrend and on supporting the energy grid of the future, which we expect to include a complementary mix of renewable resources and r

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