ArcLight Capital Partners (ArcLight) has given service contracts to energy asset management company Consolidated Asset Management Services (CAMS) for their 10 GW power generating portfolio. CAMS will provide operations and maintenance (O&M) and asset management services for the power plants under the conditions of the contract. As per the company’s statement, the power generating assets are diversified across markets which could allow renewable resources to be integrated in the future.
ArcLight is a major energy and energy transition infrastructure private equity firm. CAMS has managed and operated hundreds of conventional and renewable power generation assets with a total capacity of over 51 GW.
In August 2021, Public Service Enterprise Group agreed to sell PSEG Fossil, its 6,750 MW fossil power generating portfolio, to subsidiaries of ArcLight Energy Partners Fund VII for a $1.92 billion consideration. ArcLight Energy is a fund controlled by ArcLight Capital Partners. CAMS is a privately held company that offers O&M, asset management and optimisation services for energy and infrastructure assets, as well as environmental, social and governance services.