ArcLight Capital Partners (ArcLight) today announced that Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to invest US$1.0 billion for a strategic minority position in AlphaGen. AlphaGen is one of the largest independent power portfolios in the U.S., with over 11 GWs of critical power assets located in strategic markets across the country.
As power has become the bottleneck to the rapidly evolving growth of AI, the need for critical infrastructure that can provide capacity, reliability, and "time to power" in a sustainable way is increasingly important. ArcLight and the AlphaGen portfolio are well positioned to help meet this need in fast growing markets like Pennsylvania, Ohio and other parts of the PJM Interconnection market, investing in existing and building new infrastructure to provide accelerated power solutions to the market.
"AlphaGen provides efficient, reliable power in some of the most high-demand U.S. markets. As demand for electricity accelerates, these assets will play a vital role in balancing renewable growth with the need for reliable supply," said Bill Rogers, Head of Sustainable Energies, CPP Investments. "Partnering with ArcLight, a highly experienced investor in power markets, positions us well to support AlphaGen's strong operational performance to deliver sustainable, long-term value for the CPP Fund."
"ArcLight is excited to partner with another leading global investor – CPP Investments – in AlphaGen. We look forward to working with the CPP Investments team to drive additional growth in the platform, and deliver on the reliability and capacity needs of AI and electrification power demand growth in North America," said Angelo Acconcia, President of ArcLight. "AlphaGen, led by Curt Morgan, has a track record of strong operating performance that distinguishes the platform in the market," said Andrew Brannan, Managing Director at ArcLight.
CPP Investments continues to invest to support the global economy's energy transition, providing long-term capital to a global portfolio of assets across the energy spectrum including power generation, midstream, renewables, and conventional energy.
ArcLight has been investing and building power infrastructure since 2001, and has owned, controlled or operated over ~70 GW of assets and 47,000 miles of electric and gas transmission infrastructure representing approximately $80 billion of enterprise value. With its deep expertise and dedicated internal technical, commercial and development teams, ArcLight believes it is uniquely positioned to deliver customized, large-scale power infrastructure solutions to support AI and data center demand.
The investment is subject to regulatory approvals and is expected to close in the first half of 2026.
