Global Infrastructure Partners (GIP) has entered into a purchase and sale agreement with an affiliate of OPC Energy, an Israeli company based in Tel Aviv.
Under the agreement, OPC and its partners will acquire 100 percent of GIP's interest in Competitive Power Ventures (CPV), including all its operating assets, development pipeline and asset management business. OPC plans to invest significant capital in CPV to fund its future growth.
Focused on modernizing the U.S. power grid, CPV has developed and constructed some of the world's most efficient gas-fired power generation plants. CPV's projects have made significant contributions to the economic development of its local communities while also greatly enhancing grid reliability and reducing carbon emissions by more than 17 million tons. CPV's robust natural gas and renewable development pipelines will help drive the transformation to a more environmentally responsible, economic and reliable U.S. power system.
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