ArcLight Teams With GE and Singapore's GIC to Form Largest Fully Independent Power Producer in US Southeast

ArcLight Capital Partners, LLC , GE Energy Financial Services, a unit of GE GE, and the Government of Singapore Investment Corporation Pte Ltd announced today they have agreed to become partners in five Georgia natural gas-fired power plants that together make up the largest fully independent power producer in the southeastern United States. The GE unit and GIC will each acquire 24.95 percent of the portfolio from an affiliate of ArcLight, now its sole owner. An affiliate of ArcLight will retain 50.10 percent. Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is expected to occur toward the end of the first quarter of 2011.