Quantum Capital Group and its affiliates announced that it has entered into an agreement to acquire Cogentrix Energy, a U.S. independent power producer, from funds managed by Carlyle for a total consideration of approximately $3B. The Cogentrix platform is comprised of 5.3 gigawatts of efficient and flexible natural gas-fired power plants, located throughout PJM, ERCOT, and ISO-NE, which support the reliability, resiliency, and affordability of the U.S. electricity market. Headquartered in Charlotte, North Carolina, Cogentrix has a multi-decade track record of successfully acquiring, developing, constructing, operating, and optimizing conventional and renewable power generation assets throughout the U.S. Following transaction close, the Company will continue to be led by current CEO John Ragan and the existing Cogentrix management team. The transaction is subject to customary regulatory approvals and is expected to close between the fourth quarter of 2024 and the first quarter of 2025.
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