M&A Deal Summary

ECP and Dynegy Acquire AtlasPower

On February 25, 2016, private equity firm ECP and Dynegy acquired renewable energy company AtlasPower

Acquisition Highlights
  • This is ECP’s 7th and Dynegy’s 1st transaction in the Renewable Energy sector.
  • This is ECP’s 35th and Dynegy’s 4th transaction in the United States.
  • This is ECP’s 2nd and Dynegy’s 1st transaction in New Mexico.

M&A Deal Summary

Date 2016-02-25
Target AtlasPower
Sector Renewable Energy
Buyer(s) ECP
Dynegy
Deal Type Joint Venture

Target

AtlasPower

Tijeras, New Mexico, United States
AtlasPower is a provider of superior expertise in the field of power system testing and commissioning. Company capabilities range from EHV substations to all forms of power producing facilities, including wind farms and solar projects.

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Buyer(S) 2

Buyer

ECP

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B 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 36 of 51
Sector (Renewable Energy) 7 of 12
Type (Joint Venture) 2 of 2
State (New Mexico) 2 of 2
Country (United States) 35 of 48
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 Terra-Gen

New York, New York, United States

Terra-Gen is a renewable energy company focused on geothermal, wind and solar generation. Terra-Gen owns 744 MW (net equity) in 18 operating renewable energy projects across the Western United States. Terra-Gen was founded in 2007 and is based in New York City.

Buy -
FOLLOWING 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 -
Buyer

Dynegy

Houston, Texas, United States

Category Company
Founded 1984
Sector Utilities
Employees2,591
Revenue 3.9B USD (2015)
DESCRIPTION
Entrance to Dynegy's corporate headquarters in Houston, Texas.
Entrance to Dynegy's corporate headquarters in Houston, Texas.

Dynegy, Inc. is a provider of wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities, and other energy companies across the US. Dynegy was formed in 1984 and is based in Houston, Texas.


DEAL STATS #
Overall 4 of 5
Sector (Renewable Energy) 1 of 1
Type (Joint Venture) 1 of 1
State (New Mexico) 1 of 1
Country (United States) 4 of 5
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 EquiPower Resources

Hartford, Connecticut, United States

EquiPower Resources Corp. is a power generation company with 1,244 MW of combined cycle gas turbine power plants:   Lake Road, a 3‐unit 812 MW facility commissioned in 2002 and located in Killingly, CT; MASSPOWER, a 2‐unit 264 MW facility commissioned in 1993 and located in Indian Orchard, MA; and Dighton, a single unit 168 MW facility commissioned in 1999 and located in Dighton, MA.   

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-07 ENGIE SA - U.S. Portfolio

Texas, United States

ENGIE SA - U.S. Portfolio consists of 9,017 megawatts (MW) of generation capacity, more than 90% of which is gasfueled. The plants are located in the Texas ERCOT, PJM and ISO-New England markets, the best and most competitive power markets in the country.

Buy $3.3B