Archaea Energy to Acquire NextGen Power Holdings.
MANews-(C)2009-2022
US-based renewable natural gas company Archaea Energy Inc's (NYSE: LFG) Archaea Infrastructure, LLC subsidiary has entered into a definitive purchase and sale agreement with Riverview Investment Holdings LLC, an affiliate of Castleton Commodities International LLC, to purchase US-based renewable energy systems provider NextGen Power Holdings LLC for USD 215m in cash, the company said.
The transaction is expected to close on or after July 1, 2022.
Archaea said the deal significantly 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 7m MMBtu in 2021.
This acquisition includes gas rights for these sites, which have a number of existing long-term agreements...
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