AMP Capital invests in thermal generation platform
AMP Capital has entered into a 50/50 partnership with Invenergy Clean Power (ICP) and will invest in its operating and development portfolio of natural gas-fired power generation facilities in the US, Canada and Mexico.
Under the terms of the agreement, AMP Capital and ICP would share joint ownership and governance of the new partnership, Invenergy AMPCI Thermal Power Holdings, which would maintain the day-to-day management of the business.
ICP is an affiliate of Invenergy, an independent Chicago-based developer, owner and operator of power generation facilities internationally.
The portfolio comprised seven operating plants with net capacity of 2,680 MW in the US and Canada, one facility under construction in Pennsylvania, and two late-stage development projects in Mexico, the firm said.
AMP Capital’s partner and head of America infrastructure equity, Dylan Foo said: “This transaction represents a unique opportunity to invest in the North American power sector via a diversified portfolio, partnering with a premier developer and operator of power generation assets on a 50/50 basis.”
“The investment offers an excellent entry point into a highly attractive sector, due to the calibre of Invenergy, the quality and diversification of the portfolio, and the growth prospects of the development platform.”
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