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Private equity firm Quantum Capital Group will buy US independent power producer Cogentrix Energy for about $3 billion from funds managed by Carlyle Group, the companies said on Monday.
Cogentrix, which was bought by Carlyle from Goldman Sachs in 2012, operates more than 70 gas, coal, solar and other renewable assets.
"Electricity demand is rapidly increasing thanks to explosive growth in data centers and AI, the reshoring of manufacturing, and the electrification-of-everything... Now more than ever, we need reliable and efficient power infrastructure,†Wil VanLoh, founder and CEO of Quantum, said in a statement.
The deal is expected to close between the fourth quarter of 2024 and the first quarter of 2025.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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