Private equity firm Quantum Capital Group agrees to acquire Cogentrix Energy from The Carlyle Group for $3 billion.
Private equity firm Quantum Capital Group is set to acquire Cogentrix Energy, a US independent power producer with over 70 gas, coal, solar, and other renewable energy assets, from The Carlyle Group for approximately $3 billion. The acquisition deal, which includes 11 natural gas-fired power plants with a combined capacity of 5.3 gigawatts, is expected to close between Q4 2024 and Q1 2025, subject to regulatory approvals. Cogentrix will continue to be led by CEO John Ragan and its existing management team, and Quantum Capital plans to grow the company's platform by focusing on gas-fired power generation, renewables, and battery storage to deliver clean, reliable, and affordable power.
August 05, 2024
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