Affiliates of ArcLight Capital Partners (ArcLight) have awarded service contracts to energy asset management company Consolidated Asset Management Services (CAMS) for their 10GW power generating portfolio.
Under the terms of the contract, CAMS will provide operations and maintenance (O&M) and asset management services for the power projects.
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ArcLight said that the power generating assets are diversified across markets and could allow renewable resources to be integrated in the future.
The company is a private equity firm that focuses on energy and energy transition infrastructure.
An ArcLight spokesperson said: “We want to highlight the support, leadership and coordination the CAMS team provided through each phase of the process.
“From due diligence to the early stages of our ownership, CAMS has been helpful, responsive and very strong on the transition and operational leadership.
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By GlobalData“CAMS was a critical team member in successfully completing these acquisitions.”
ArcLight also said that the portfolio acquisitions required a collaborative effort and were ‘substantial milestones’ for both itself and CAMS.
CAMS chief operating officer Greg Bobrow said: “We are excited to manage and operate this fleet of energy assets that provide reliable power throughout the US.
“We have an extensive and successful track record of providing sustainable, value-added services for owners of energy infrastructure assets and are pleased to be involved with these portfolios, which also have the ability to support the transition to renewable sources of generation.”
Last August, Public Service Enterprise Group agreed to sell PSEG Fossil, its 6,750MW fossil power generating portfolio, to subsidiaries of ArcLight Energy Partners Fund VII for a $1.92bn consideration.
ArcLight Energy is a fund controlled by ArcLight Capital Partners.
CAMS is a privately held company that offers O&M, asset management and optimisation services for energy and infrastructure assets, as well as environmental, social and governance (ESG) services.
