M&A Deal Summary

Arroyo Energy Investors Acquires Broad River Energy Center

On December 19, 2016, private equity firm Arroyo Energy Investors acquired renewable energy company Broad River Energy Center from ECP

Acquisition Highlights
  • This is Arroyo Energy Investors’ 3rd transaction in the Renewable Energy sector.
  • This is Arroyo Energy Investors’ 2nd transaction in the United States.
  • This is Arroyo Energy Investors’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2016-12-19
Target Broad River Energy Center
Sector Renewable Energy
Buyer(s) Arroyo Energy Investors
Sellers(s) ECP
Deal Type Secondary Buyout

Target

Broad River Energy Center

Gaffney, South Carolina, United States
Broad River Energy Center is an 870 megawatt simple-cycle, natural gas-fired power plant. Broad River Energy Center was founded in 2000 and is based in Gaffney, South Carolina.

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Buyer(S) 1

DESCRIPTION

Arroyo Energy Investors is a private investment firm focused on opportunities in the energy industry. The Firm has a particular interest in energy infrastructure and will consider businesses throughout the US, Mexico, and Chile. Arroyo Energy Investors was formed in 2003 and is headquartered in Spring, Texas.


DEAL STATS #
Overall 3 of 13
Sector: Renewable Energy M&A 3 of 7
Type: Secondary Buyout M&A Deals 1 of 2
State: South Carolina M&A 1 of 2
Country: United States M&A 2 of 8
Year: 2016 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 Brandywine Power Facility

Brandywine, Maryland, United States

Brandywine Power Facility is a 230 MW dual-fuel, combined-cycle generation facility located 25 miles from Washington, D.C. in Brandywine, Maryland. Brandywine sells 98% of its capacity and energy to an investment grade off-taker.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-20 Broad River Energy

Gaffney, South Carolina, United States

Broad River Energy is an 850 MW dual-fuel, simple-cycle power generation facility located in Gaffney, South Carolina that is fully committed to Duke Energy Progress under two long-term tolling agreements. Broad River utilizes 5 GE 7FA.03 gas turbine generators for the generation of electrical power. The units can be on the grid and supplying power within 15 minutes to help serve peak and emergency loads.

Buy -

Seller(S) 1

SELLER

ECP

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 31.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.


DEAL STATS #
Overall 12 of 30
Sector: Renewable Energy M&A 4 of 8
Type: Secondary Buyout M&A Deals 2 of 6
State: South Carolina M&A 1 of 2
Country: United States M&A 12 of 28
Year: 2016 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-21 Sunnova

Houston, Texas, United States

Sunnova is a residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted. Sunnova was founded in 2012 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-20 Broad River Energy

Gaffney, South Carolina, United States

Broad River Energy is an 850 MW dual-fuel, simple-cycle power generation facility located in Gaffney, South Carolina that is fully committed to Duke Energy Progress under two long-term tolling agreements. Broad River utilizes 5 GE 7FA.03 gas turbine generators for the generation of electrical power. The units can be on the grid and supplying power within 15 minutes to help serve peak and emergency loads.

Sell -