Latham & Watkins Advises Energy Capital Partners in Acquisition of Majority Interest in PROENERGY

Energy Capital Partners (ECP), a leading investor across energy transition, electrification, and decarbonization infrastructure assets, announced that it has acquired a majority interest in PROENERGY Holdings (PROENERGY), a vertically integrated aeroderivative gas turbine platform with a 2.4 GW fleet of contracted peakers in Texas, from affiliates of Eos Partners and ACON Investments. In addition to its 2.4 GW portfolio of operating power plants, PROENERGY provides repair and maintenance services for the global GE LM6000 and LM2500 turbine fleet (over 3,000 installed units), and operates as an original equipment manufacturer and turnkey engineering, procurement and construction business delivering firm gas power generation solutions to utility customers. Together with ECP, PROENERGY will expand its platform and pipeline, pursue accretive growth opportunities and build on its established reputation for best-in-class performance, industry-leading turnaround times, and lower customer costs.

Latham & Watkins LLP represented ECP in the transaction with a corporate deal team led by New York partner David Kurzweil and New York counsel Alyssa Galinsky, with associate Daley King. Advice was also provided on finance matters by Los Angeles/New York partner Jeffrey Greenberg.