ECP Acquires BG Group's New England Gas Plants for $450M

ECP will own 100% of the debt-free facilities, which include the 812 MW Lake Road plant, the 264 MW Masspower plant, and the 168 MW Dighton plant. Curt Morgan, ECP's operating partner, will become CEO of the new entity, leveraging his prior experience leading FirstLight Power Resources, a generating company ECP previously formed and sold to SUEZ Energy North America (part of GDF SUEZ).

Morgan expressed enthusiasm for the acquisition and anticipates achieving significant operating synergies as the new business seeks to acquire additional assets and grow. ECP expects to close and fund the acquisition near the end of the second quarter, following receipt of all necessary approvals.

ECP is a private equity firm focused on North American energy infrastructure investments.