- The investment is expected to close in the first half of 2026
- ArcLight formed AlphaGen in 2024
- ADIA agreed to make a $500m minority investment in AlphaGen in January
Canada Pension Plan Investment Board (CPP Investments) has agreed to invest $1.0 billion for a strategic minority stake in AlphaGen, owned by ArcLight Capital Partners.
AlphaGen is an independent power portfolio in the US, with over 11GWs of critical power assets located in strategic markets across the country. ArcLight formed AlphaGen in 2024.
“AlphaGen provides efficient, reliable power in some of the most high-demand US markets,” said Bill Rogers, head of sustainable energies, CPP Investments, in a statement. “As demand for electricity accelerates, these assets will play a vital role in balancing renewable growth with the need for reliable supply.”
“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.
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, according to a release. 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, the release said.
The investment is subject to regulatory approvals and is expected to close in the first half of 2026.
Abu Dhabi Investment Authority agreed to make a $500 million minority investment in AlphaGen in January.
CPP Investments is an investment management organization that oversees the Canada Pension Plan Fund. As of June 30, the fund totaled C$731.7 billion.