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M&A Deal Summary

ArcLight Capital Partners Acquires REC Solar

On October 5, 2023, infrastructure investor ArcLight Capital Partners acquired renewable energy company REC Solar from Duke Energy Renewables

Acquisition Highlights
  • This is ArcLight Capital Partners’ 11th transaction in the Renewable Energy sector.
  • This is ArcLight Capital Partners’ 85th transaction in the United States.
  • This is ArcLight Capital Partners’ 9th transaction in California.

M&A Deal Summary
Date 2023-10-05
Target REC Solar
Sector Renewable Energy
Buyer(s) ArcLight Capital Partners
Sellers(s) Duke Energy Renewables
Deal Type Divestiture

Target

REC Solar

San Luis Obispo, California, United States
REC Solar is a provider of residential solar electric system design and installation with a local presence in all major solar markets in the U.S. By providing innovative products, efficient processes and integrated services, REC Solar’s residential solar solutions deliver high-quality systems while lowering the cost of solar power for all. REC Solar was founded in 1997 and is based in San Luis Obispo, California.

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Buyer(S) 1

Buyer

ArcLight Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2001
PE ASSETS 20.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ArcLight Capital Partners is private equity firm that invests in energy assets and businesses. Specific areas of interest include power generation; oil, natural gas, coal extraction and production; midstream gathering, processing, storage and transportation of oil, natural gas, coal; energy transportation; and energy distribution companies. ArcLight's geographic coverage includes opportunities across North America, Western Europe, and Australia/New Zealand. ArcLight was formed in 2001 and has offices in Boston and Luxembourg.

DEAL STATS #
Overall 99 of 102
Sector: Renewable Energy M&A 11 of 11
Type: Divestiture M&A Deals 8 of 8
State: California M&A 9 of 9
Country: United States M&A 85 of 87
Year: 2023 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-14 Kleen

Middletown, Connecticut, United States

Kleen Energy Systems operates a 620-megawatt natural gas-fired, combined-cycle power plant, using gas and steam turbines to generate electricity. Kleen was founded in 2008 and is based in Middletown, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-10 AlphaGen

Houston, Texas, United States

AlphaGen provides strategic management and oversight of its power infrastructure portfolio. AlphaGen was formed in 2024 and is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Duke Energy Renewables

Kansas, United States
Category Company
Founded 2007
Sector Renewable Energy
DESCRIPTION

Duke Energy Renewables LLC is a provider renewable energy services.

DEAL STATS #
Overall 1 of 1
Sector: Renewable Energy M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-10 SunPower - Three Solar Power Projects

San Jose, California, United States

SunPower Corp. - Three Solar Power Projects includes 20-MW Rio Bravo I, the 20-MW Rio Bravo II, and the 15-MW Wildwood Solar II solar power plants.

Buy -
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