Power play

Quantum Capital Group has announced an agreement to acquire Cogentrix Energy from Carlyle for approximately $3 billion.
Cogentrix operates 5.3 gigawatts of natural gas-fired power plants across various U.S. regions, enhancing the electricity market's reliability and affordability.
The acquisition will keep Cogentrix's current CEO John Ragan and the management team in leadership positions.
Quantum's CEO Wil VanLoh emphasized the need for reliable power infrastructure amid rising electricity demand and grid instability.
Quantum Capital Group has managed over $27 billion in equity commitments since its founding in 1998.
Cogentrix, established in 1983, specializes in the development and operation of power generation assets in the U.S.

Emera Inc. has announced an agreement to sell New Mexico Gas Company to Bernhard Capital Partners for an aggregate transaction value of $1.252 billion.
The sale includes the assumption of approximately $500 million of debt and is subject to customary closing adjustments.
New Mexico Gas Company is the largest natural gas utility in the state, serving over 545,000 customers and managing over 12,000 miles of pipeline.
Emera acquired NMGC in 2016 as part of its purchase of the TECO group of companies.
Bernhard Capital plans to retain the leadership team and employees of New Mexico Gas Company and create approximately 70 new local jobs.
The transaction is subject to regulatory approval by the New Mexico Public Regulation Commission and is expected to close in late 2025.

SLB and Aker Carbon Capture joint venture, known as SLB-ACC JV, received a FEED contract from CO280 Solutions for a large-scale carbon capture plant.
The project aims to remove 800,000 tonnes of carbon emissions annually at a pulp and paper mill located on the U.S. Gulf Coast.
The North American pulp and paper industry has the potential to remove up to 130 million tonnes of carbon per year through permanent CO2 storage.
SLB-ACC JV is already implementing carbon capture solutions at various industrial sites in bioenergy, cement, and waste-to-energy sectors.

Climate Impact Partners has launched a new carbon dioxide removal program to help companies finance innovative carbon removal technologies.
The program aims to support the removal of 10 billion tons of CO2 annually from the atmosphere by 2050.
It focuses on advanced carbon removal solutions like direct air capture, ocean alkalinity enhancement, and enhanced rock weathering.
Organizations participating in the program will provide early-stage support to help lower the cost of entry into the carbon removal sector.
The program seeks to overcome investment barriers, stimulate innovation, and ensure successful delivery of carbon removal technologies.

OCI Global has entered into a binding equity purchase agreement to sell 100% of its equity interests in the Clean Ammonia project in Beaumont, Texas to Woodside Energy Group Ltd for USD 2.35 billion.
OCI will deliver a fully staffed and operational facility by the project's completion, which includes necessary infrastructure for a second line.
OCI will manage construction and commissioning until the project becomes operational, then transfer management to Woodside.
OCI Clean Ammonia is the world's first large-scale, low-carbon intensity hydrogen-based greenfield ammonia facility, with first production expected in 2025.
The project will capture and sequester 1.7 million metric tonnes of CO2 annually.
It is the only blue ammonia facility under construction globally, planned to produce 1.1 million metric tonnes per year, with potential to double the capacity.

Masdar and TotalEnergies have signed an agreement to develop a commercial green hydrogen to methanol to SAF project in Abu Dhabi.
The project aims to decarbonize hard to abate and emission intensive sectors such as aviation and maritime industries.
CO2 will be captured from an industrial source and used as a feedstock for green methanol and SAF production.
The agreement follows a successful test flight that demonstrated the potential for converting methanol to SAF.
The UAE has a target to supply 1% of national airline fuel using locally produced SAF by 2031.
Masdar has been a key player in the UAE's sustainability vision since 2006 and aims to increase its renewable energy capacity to 100GW by 2030.

WhiteWater, MPLX LP, and Enbridge Inc. have partnered with Targa Resources to construct the Blackcomb Pipeline after securing sufficient transportation agreements.
The pipeline will transport up to 2.5 billion cubic feet per day of natural gas over approximately 365 miles from the Permian Basin in West Texas to South Texas.
Supply for the Blackcomb Pipeline will be sourced from multiple upstream connections in the Permian Basin, including facilities in the Midland Basin and the Agua Blanca Pipeline.
The ownership structure of the Blackcomb Pipeline is 70% by WPC, 17.5% by Targa, and 12.5% by MPLX.
WhiteWater will construct and operate the pipeline, which is expected to be in service in the second half of 2026, pending regulatory approvals.
The WPC joint venture, comprised of WhiteWater, MPLX, and Enbridge, owns various pipelines and storage assets that transport natural gas from the Permian Basin to South Texas.

Quinbrook Infrastructure Partners has closed the Net Zero Power Fund with $3 billion in new capital commitments.
The NZPF strategy focuses on large-scale solar+storage, sustainable infrastructure for data centers, renewable fuels, synchronous condensers for grid support, and contracted battery storage.
Notable investments include Primergy Solar, Rowan Digital Infrastructure, The Supernode Storage Project, Purpose Energy, and Project Severn.
Quinbrook has committed over half of its capital across its existing portfolio and expects to be fully committed within the next 12 months.
Quinbrook specializes in infrastructure investment focused on the energy transition in the UK, US, and Australia.

SunPower has entered into an asset purchase agreement with Complete Solaria to sell its Blue Raven Solar business, New Homes business, and non-installing dealer network.
The company has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.
Complete Solaria will acquire the assets for $45 million in cash, subject to court approval.
The agreement allows other interested parties to submit competing bids for the Company's assets.
The company plans to liquidate any remaining assets and wind down operations in an orderly manner once the sale process is completed.

Goldman Sachs Alternatives has announced a $440 million strategic investment in BrightNight, strengthening its position as a top U.S. renewable power platform.
This funding is intended to support BrightNight's five-year business plan and enhance its 31-gigawatt renewable power project portfolio.
BrightNight specializes in delivering clean, dispatchable renewable power solutions for utility and commercial customers, utilizing its AI platform, PowerAlpha®, to optimize project performance.
Goldman Sachs Alternatives manages over $450 billion in assets and has a track record of investments across various alternative asset classes, including infrastructure.