ArcLight signs agreement to own 570 MW Griffith Energy combined-cycle gas-fired power plant in Mohave County

ArcLight Capital Partners, LLC has entered into an agreement to acquire 100% of the ownership interests in Griffith Energy LLC from Star West Generation LLC, a portfolio company of funds managed by Oaktree Capital Management, LLC.

Griffith, a 570 MW gas-fired combined-cycle generation facility, is located in Mohave County, Arizona, near the California and Nevada borders. Griffith is a highly efficient resource that serves the rapidly growing Desert Southwest power market and sells summer capacity and electricity to a regional load-serving entity under a long-term contract.

The transaction is expected to close in the second quarter of 2020, subject to customary regulatory approvals and closing conditions.

Milbank LLP is serving as primary legal counsel to ArcLight. Barclays is serving as exclusive financial advisor and Morgan, Lewis & Bockius LLP is serving as primary legal counsel to Oaktree.