Renewable Natural Gas Company To Acquire Retail Supplier

May 16, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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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.

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