Carlyle Group to Acquire Six Power Plants in California, New Jersey
Global alternative asset manager The
Carlyle Group (NASDAQ: CG), today announced it has agreed to acquire
the Red Oak power generation facility in Sayreville, New Jersey, and has
separately closed on the purchase of five power plants in California.
The acquisitions, which were executed in conjunction with Carlyle's
power affiliate Cogentrix, bring the total enterprise value of power
asset transactions since Carlyle funds acquired Cogentrix in late 2012
to more than $1.2 billion.
Robert Mancini, Carlyle Managing Director and Chairman of the Board of
Cogentrix, said, “Since Carlyle funds acquired Cogentrix, our power team
has committed approximately $600 million of equity capital. The North
American power generation sector is evolving, and we see significant