Renewable Natural Gas Company To Acquire Retail Supplier
May 16, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
The following story is brought free of charge to readers byEC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Archaea Energy Inc. a renewable natural gas (RNG) company, announced that its wholly owned subsidiary, Archaea Infrastructure, LLC, has entered into a definitive purchase and sale agreement with Riverview Investment Holdings LLC, an affiliate of Castleton Commodities International LLC, to purchase NextGen Power Holdings LLC (together with its subsidiaries, Ingenco) for $215 million in cash, subject to customary adjustments at closing.
A FERC filing made today confirms that this acquisition includes retail energy supplier Collegiate Clean
Energy LLC. NextGen Power Holdings, LLC is an indirect
corporate parent of Collegiate
Collegiate was formed in 2012
and primarily makes sales of renewable energy to colleges, universities, and other
businesses. Collegiate is a licensed competitive retail electric service provider and
aggregator in Virginia.
The primary driver of the transaction is the acquisition of generator Ingenco. Archaea said that the transaction adds to its backlog of RNG development opportunities via acquisition of existing electricity generation assets
The Ingenco asset platform includes 14 operating landfill gas to electric (LFGTE) plants at sites which had combined gas flows into the facilities of 7 million MMBtu in 2021. Archaea expects to build RNG facilities on the majority of these LFGTE sites over time
The transaction is expected to close on or after July 1, 2022.