Duke Energy has completed the sale of its commercial distributed generation portfolio to an investment fund managed by ArcLight Capital Partners LLC, a middle market infrastructure investment firm.
The sale agreement, which was previously announced in July 5, includes REC Solar’s operating assets, development pipeline and O&M portfolio, as well as distributed fuel cell projects managed by Bloom Energy.
ArcLight’s acquisition of the distributed generation business further expands the firm’s focus on developing strong standalone renewable platforms across the infrastructure sector.
Employees of the distributed generation business will transition to ArcLight to maintain business continuity for its operations and customers.
BofA Securities Inc. is serving as the financial advisor, and Mayer Brown LLP is serving as the legal counsel to Duke Energy for this transaction. Scotia is serving as the financial advisor, and Kirkland & Ellis is serving as the legal counsel to ArcLight.