Energy Capital Partners (ECP) Acquires Majority Interest in PROENERGY
Summary
Furthermore, PROENERGY operates as an original equipment manufacturer and turnkey engineering, procurement and construction business delivering firm gas power generation solutions to utility customers. PROENERGY benefits directly from electricity demand growth and is positioned to capitalize on the need for new aeroderivative turbines as the flexible, peaking technology best suited to address growing intermittency issues across U.S. power markets. Together with ECP, PROENERGY will expand its platform and pipeline, pursue accretive growth opportunities and build on its established reputation for best-in-class performance, industry-leading turnaround times, and lower customer costs. Together, we are dedicated to driving growth, fostering innovation, advancing sustainability, and delivering unparalleled value to our industry.” Latham & Watkins LLP acted as legal advisor to ECP on the transaction. The ECP team, comprised of 90 people with 800 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 100 equity (representing nearly $60 billion of enterprise value) and over 20 credit transactions since inception.
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