April 4, 2025

Billionaire-led Avenue Capital seeks to sell 2.2 GW of California power and storage assets to Swiss-based investor

The deal for gas-fired and storage assets would mark a significant expansion for Partners Group Holding’s CAISO portfolio.

Ownership Change: A unit of New York-based global investment firm Avenue Capital Group filed for FERC approval on March 31 to sell about 1,810 MW of gas-fired generating capacity, and about 380 MW of battery storage capacity to a unit of Swiss investment manager Partners Group Holding AG. The deal, announced March 18, has an enterprise value of $2.2 billion. ...

Details:

Filing Date: April 1, 2025

Docket Numbers:

EC25-72

Short Summary:

A unit of New York-based global investment firm Avenue Capital Group filed for FERC approval on March 31 to sell about 1,810 MW of gas-fired generating capacity, and about 380 MW of battery storage capacity in CAISO to a unit of Swiss investment manager Partners Group Holding AG.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisitions & Dispositions, Battery Storage, Natural Gas, Natural Gas-Fired Generators, Power Marketing Services

Entities: Avenue Capital Group, Partners Group Holding AG

Markets: California ISO (CAISO)

Regions: West

States: California

Regulators: FERC

Courts:

Documents:

Acquisition & Disposition – Application