Archaea Energy to acquire NextGen Power
Archaea Infrastructure LLC, a subsidiary of Archaea Energy Inc, has entered into a definitive purchase and sale agreement with Riverview Investment Holdings LLC, an affiliate of Castleton Commodities International LLC, for the purchase of NextGen Power Holdings LLC and its subsidiaries (INGENCO) for US$215 million in cash, subject to customary closing conditions.
INGENCO´s asset platform includes 14 landfill gas to electric (LFGTE) plants in operation with combined gas flows of 7 million MMBtu in 2021. The purchase includes gas rights for these sites, covered by a number of long-term agreements.
Archaea plans to fund the purchase of INGENCO through one or more capital market or private financing transactions. The deal is scheduled to close around July 1, 2022.
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