ArcLight Capital Partners has made a $1bn (€857bn) equity commitment from its funds to launch Anchor Point Transmission, an independent transmission company formed to address critical challenges facing the US power grid.
ArcLight was recently acquired by NYSE-listed global digital infrastructure manager DigitalBridge in a deal valued at up to $1.05bn.
In its first major transaction since the takeover, ArcLight said Anchor Point’s aim will be to partner with utilities to help enable, develop and accelerate the high-voltage transmission infrastructure needed to support the US grid’s growth so it can cope with rapid load growth from electrification, manufacturing and AI compute.
ArcLight has appointed industry veterans Michael Deggendorf as executive chairman and Justin Campbell as president of Anchor Point, combined with a seasoned operating and development team to drive the platform’s success.
Since its launch in 2001, ArcLight has owned, controlled, or operated over 70GW of assets and 48,000 miles of electric and gas transmission and storage infrastructure representing more than $90bn of enterprise value. The firm said it operates the largest private power generation portfolio and thermal development pipeline in North America, supported by an integrated platform of strategic, technical, operational and commercial specialists.
Angelo Acconcia, managing partner of ArcLight, said: “ArcLight has spent more than two decades building, connecting and operating critical infrastructure across the energy infrastructure value chain, including transmission.
“Between ArcLight’s in-house operating, technical and commercial resources, our large-scale operating and development platforms in Advanced Power and AlphaGen, and Anchor Point’s capabilities and resources in transmission, we believe we are well positioned to help address the critical need for new infrastructure and be a value-added partner to utilities to help enable their growth and success.”
Anchor Point’s leadership team has been active in transmission development, ownership and operation since the early 2000s. The team’s combined track record includes more than $4bn in transmission projects developed or originated and over 1,500 miles of transmission constructed, with experience across major US power markets and regulatory jurisdictions.
Campbell said: “Utilities face a record need for transmission investment while managing affordability, reliability and increasingly complex planning needs. Anchor Point was built to be a flexible, value-added long-term partner, bringing development, deep planning and regulatory expertise, and disciplined execution to help utilities meet their customers’ evolving needs.”
Deggendorf added: “The US transmission system requires substantial investment to support reliability, economic growth, renewable integration and rapidly increasing electricity demand. Meeting that challenge requires thoughtful new approaches to partnership, planning and execution that can accelerate critical infrastructure investment and strengthen and expand the grid.”
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