Sidley is representing Advanced Power, a leading independent power developer and asset manager of innovative power infrastructure, in its acquisition by ArcLight Capital Partners (ArcLight). The investment and partnership includes an initial US$1 billion equity commitment from ArcLight to build new power infrastructure, along with the potential to invest more than US$5 billion of equity over the next five years to enable over 20 gigawatts (GW) of new power and the acceleration of North America’s AI and data center infrastructure growth.
Advanced Power’s existing late-stage power projects across the U.S. include 12+ GWs of conventional and renewable projects and 10+ GWs of energy storage projects. The partnership combines Advanced Power’s significant development expertise, power development track record, and strategic industry relationships with ArcLight’s existing 26 GWs operating power portfolio and electric infrastructure expertise across power, renewables, batteries, transmission, strategic gas, and digital power. With a pipeline of over 20 GWs of identified, advanced, new generation capacity primed for development, ArcLight and Advanced Power’s development portfolio becomes one of the largest in the U.S., offering enough capacity to power 11+ million homes.
The Sidley team was led by Noreen Phelan, Jeff Kinney, Chaim Theil, and Tara Higgins, with support from Hagai Zaifman, Lauren Gallagher, Marcela Varela, J.D. Swancoat, Charlie Peskin, and Jon Litsey.
