Quantum Capital Group and its affiliates on Aug. 5 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 $3 billion.
The Cogentrix platform is comprised of 5.3 gigawatts of natural gas-fired power plants, located throughout PJM, ERCOT, and ISO-NE.
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.
