Published: October 8, 2025 |

[Click image to enlarge]

[Click image to enlarge]

ArcLight said the Canada Pension Plan Investment Board (CPP) has entered into a definitive agreement to invest $1 billion for a strategic minority position in AlphaGen. AlphaGen is one of the largest independent power portfolios in the U.S., with more than 11 GWs of critical power assets located in strategic markets across the country.

As power has become the bottleneck to the rapidly evolving growth of AI, the need for critical infrastructure that can provide capacity, reliability, and “time to power” in a sustainable way is increasingly important. ArcLight and the AlphaGen portfolio are well positioned to help meet this need in fast growing markets like Pennsylvania, Ohio, and other parts of the PJM Interconnection market, investing in existing and building new infrastructure to provide accelerated power solutions to the market.

“AlphaGen provides efficient, reliable power in some of the most high-demand U.S. markets. As demand for electricity accelerates, these assets will play a vital role in balancing renewable growth with the need for reliable supply,” said Bill Rogers, head of Sustainable Energies, CPP Investments.

“Partnering with ArcLight, a highly experienced investor in power markets, positions us well to support AlphaGen’s strong operational performance to deliver sustainable, long-term value for the CPP fund,” added Rogers.

“ArcLight is excited to partner with another leading global investor — CPP Investments — in AlphaGen. We look forward to working with the CPP Investments team to drive additional growth in the platform, and deliver on the reliability and capacity needs of AI and electrification power demand growth in North America,” said Angelo Acconcia, president of ArcLight. 

“AlphaGen, led by Curt Morgan, has a track record of strong operating performance that distinguishes the platform in the market,” said Andrew Brannan, managing director at ArcLight.

CPP Investments continues to invest to support the global economy’s energy transition, providing long-term capital to a global portfolio of assets across the energy spectrum including power generation, midstream, renewables, and conventional energy.

The investment is subject to regulatory approvals and is expected to close in the first half of 2026.

AlphaGen is a strategic partnership formed and owned by an affiliate of ArcLight to own and operate critical power infrastructure to help provide reliable, secure, safe, and sustainable sources of power and meet the growing infrastructure needs created by electrification. AlphaGen is led by a deeply experienced senior management team with a proven track record of strategic, operational, and commercial expertise to help create value and manage risk.

ArcLight is a leading infrastructure investor which has been investing in critical electrification infrastructure since its founding in 2001. ArcLight has owned, controlled or operated more than 65 GW of assets and 47,000 miles of electric and gas transmission and storage infrastructure representing $80 billion of enterprise value.  ArcLight has a long and proven track record of value-added investing across its core investment sectors including power, hydro, solar, wind, battery storage, electric transmission and natural gas transmission, and storage infrastructure to support the growing need for power, reliability, security, and sustainability. ArcLight’s team employs an operationally intensive investment approach that benefits from its dedicated in-house strategic, technical, operational, and commercial specialists, as well as the firm’s ~2,000-person asset management partner.

Canada Pension Plan Investment Board is a professional investment management organization that manages the Canada pension plan fund in the best interest of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, they make investments around the world in public equities, private equities, real estate, infrastructure, fixed income and alternative strategies including in partnership with funds. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo, and Sydney, CPP Investments is governed and managed independently of the Canada pension plan and at arm’s length from governments.

Be in-the-know when you’re on-the-go!

CLICK HERE to register your email address.

Copyright © 2025 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)