ArcLight Capital Partners, LLC (together with its affiliates, “ArcLight”), a leading middle market infrastructure firm, announced it has formed Alpha Generation, LLC (“AlphaGen”) to provide strategic management and oversight of its power infrastructure portfolio. ArcLight and AlphaGen are focused on providing reliable, secure, safe, and sustainable access to power to help meet the growing infrastructure needs created by electrification. AlphaGen will oversee one of the largest domestic power portfolios, with nearly $2 billion in annual revenue.
“The creation of AlphaGen builds on ArcLight’s leading position as a proven and experienced power infrastructure investor,” said Dan Revers, Managing Partner of ArcLight. “We believe power infrastructure will play an increasingly critical and necessary long-term role as demand increases on the back of electrification, data center growth, and AI amongst other things. To help support this growth and create value, we have brought together an industry-leading team with a proven track record of strategic, operational, and commercial experience overseeing and operating power generation assets.”
AlphaGen will oversee the strategic, commercial, and operational activities for ArcLight’s funds’ power infrastructure portfolio and assets, one of the nation’s largest power portfolios. The power infrastructure portfolio managed by AlphaGen includes low-cost, low-carbon strategically located assets that provide critical supply to key demand centers, including throughout the tri-state area of New York, New Jersey, and Connecticut.
“ArcLight is excited to announce this strategic partnership as part of our continued value-added investment approach and strategy, which invests across the electrification infrastructure value chain including renewables, battery storage, and other transition infrastructure. We believe AlphaGen, complemented by ArcLight’s internal expertise and deep experience, will drive substantial synergies across our existing portfolio and help us capitalize on further opportunities created by the electrification and energy transition mega trends,” said Angelo Acconcia, Partner at ArcLight.
Curt Morgan, a longtime industry executive, has been named Chief Executive Officer and Chairman of AlphaGen, effective May 1, 2024. Mr. Morgan was previously CEO of Vistra, an integrated retail electricity and power generation company. During his tenure, he helped establish Vistra as a power and energy transition leader while transforming it from a single-state provider into one of the largest power producers and retailers in the country.
Mr. Morgan is currently a Senior Advisor to ArcLight. Mark Sudbey will serve as interim CEO until Mr. Morgan joins. Mr. Morgan and Mr. Sudbey are complemented by a number of experienced executives from ArcLight’s existing portfolio and several recent additions, including Mary Anne Brelinsky who joins as President and Chief Commercial Officer.
“I am excited to partner with ArcLight, one of the leading domestic infrastructure investors. We believe AlphaGen’s infrastructure is well positioned to deliver safe, reliable, and critical power to meet current and increasing demand,” stated Mr. Morgan. “I look forward to working with Mark, Mary Anne, and the rest of the leadership team to help drive value, mitigate risk, and capitalize on new investment opportunities which a portfolio such as this is likely to create.”
