Fairfield conglomerate General Electric this week joined a group making up the largest fully independent power producer in the Southeastern United States.
GE Energy Financial Services and the Government of Singapore Investment Corporation each acquired a 24.95-percent stake in a venture led by Boston-based ArcLight Capital Partners to be partners in five Georgia natural gas-fired power plants. Financial terms were not disclosed.
“This transaction enables us to deepen our relationship with ArcLight, establish ties with an important new partner, GIC, and work together on an attractive set of assets in a core focus area, thermal power generation,” said Kevin Walsh, managing director and leader of power and renewables at GE Energy Financial Services, in a statement.
The five plants are located in Monroe, Walton, Washington, Sandersville and Effingham totaling 2,527 megawatts of power production.
