Carlyle Group To Buy Six Natural Gas-Fired Power Plants In Georgia

(RTTNews) - In a bid to boost its power generation portfolio, the Carlyle Group (CG) has agreed to buy 75.05 percent of the outstanding stakes and operational control of Southeast PowerGen, which includes six natural gas-fired power plants in Georgia, from ArcLight Capital Partners and GIC, Singapore based sovereign wealth fund.

The financial terms of the deal were not disclosed. With this acquisition, Carlyle's power generation portfolio's size will increase to more than 4,300 MW.

Commenting on the transaction, Matt O'Connor, Carlyle's Managing Director said: "Southeast PowerGen is an attractive investment because of its strategic importance to the Georgia electric power market and its stable cash flow generation. The Southeast region is seeing a resurgence of industrial growth and we believe these plants are well-positioned to capitalize on favorable market dynamics."