An affiliate of ArcLight Capital Partners has acquired 100 percent of the 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 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. The output provided by Kleen will allow the integration of intermittent renewable resources into the New England electricity market throughout the coming decades.
“At ArcLight, we view electrification as a key driver of the energy transition, with e