PowerTransitions Completes Acquisition of 226 MW Seed Portfolio

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HOUSTON--(BUSINESS WIRE)--Sep 17, 2025--

PowerTransitions®, a leading independent power producer specializing in the redevelopment of legacy power and industrial facilities, announced today that it closed on the acquisition of a 226 MW seed portfolio of natural-gas fired power generation assets from Talen Energy on September 11, 2025. Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, completed its acquisition of PowerTransitions from EnCap Investments simultaneously with the acquisition of the seed portfolio. Partners Group plans to invest over $450 million of capital to accelerate PowerTransitions’ future growth.

The seed portfolio is comprised of the 145 MW Camden Power Plant located in Camden, New Jersey and the 81 MW Dartmouth Power Plant located in Dartmouth, Massachusetts. The acquisition of the plants marks PowerTransitions’ entry into two key markets – PJM and ISO New England – positioning the Company to benefit from ongoing thematic tailwinds affecting the energy sector, including rising power demand from the expansion of data center capacity, the reshoring of manufacturing, and the electrification of the economy.

PowerTransitions acquires operating thermal power generation assets for the purpose of ultimately redeveloping them into new power generation, battery energy storage and powered land sites for data centers and advanced manufacturers. The Company also acquires retiring power and industrial facilities with existing grid connections that can be enhanced or modified to create efficiencies and/or add new generation through the co-location of new thermal, solar and/or battery energy storage systems. PowerTransitions has identified a pipeline of 5+ GW of thermal power assets in constrained markets across the US, and has a 3.5+ GW pipeline of development projects that are attractive for this strategy.

“PowerTransitions is committed to preserving the operational excellence and local knowledge that the plant employees bring to the plants,” said Sean Long, Co-Founder & Chief Executive Officer, PowerTransitions. “The acquisition of the Camden and Dartmouth power generation facilities is a key first step in our strategy to acquire legacy operating thermal assets providing long-term grid reliability. As part of this strategy, PowerTransitions invests in these communities to, among other things, maintain jobs and tax revenue as long as practicable and at the appropriate time revitalize these assets by creating new power generation, new battery storage systems and power land campuses at these plants to extend existing and create new jobs and tax revenue, and remediate these sites when appropriate.”

“We are very pleased to simultaneously close our acquisition of PowerTransitions and the Company's acquisition of a 226 MW seed portfolio. The platform is now in place for us to start executing on PowerTransitions' strategy of acquiring legacy power assets to repower with new thermal generation and co-locating renewables and battery storage," said Ed Diffendal, Co-Head of Infrastructure Americas, Partners Group. “We look forward to working with Sean and the team on accelerating growth."

PowerTransitions and Partners Group were advised by Davis Polk & Wardwell on the transaction.

About PowerTransitions ®

PowerTransitions® is a leading independent power producer specializing in owning operating legacy power generation facilities and redeveloping retired power and industrial facilities into new power generation, energy storage systems and on-site data center campuses. PowerTransitions leads all aspects of its redevelopment projects, from deconstruction and remediation of the sites to development, financing and owning new power generation, energy storage facilities, and powered land for data center campuses. For more information on PowerTransitions, please visit www.power-transitions.com or follow us on LinkedIn.

About Partners Group

Partners Group is one of the largest firms in the global private markets industry, with around 2,000 professionals and over USD 174 billion in overall assets under management globally. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information on Partners Group, please visit www.partnersgroup.com or follow the firm on LinkedIn.

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CONTACT: PowerTransitions

Media Relations

Email:[email protected] Group

Media Relations

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KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS NEW JERSEY TEXAS

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY OIL/GAS

SOURCE: PowerTransitions

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PUB: 09/17/2025 05:35 PM/DISC: 09/17/2025 05:34 PM

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