PowerTransitions Completes Strategic Acquisition of 226 MW Seed Portfolio, Launches Next Phase of Growth with Partners Group Investment
PowerTransitions®, an independent power producer focused on transforming legacy energy and industrial assets into next-generation infrastructure, announced the successful completion of a landmark transaction on September 11, 2025. The company closed on the acquisition of a 226 MW seed portfolio of natural gas-fired generation facilities from Talen Energy, a deal that represents both a milestone in its growth strategy and a gateway into two of the most important U.S. power markets.
Simultaneously, Partners Group, a leading global private markets investment firm acting on behalf of its clients, finalized its acquisition of PowerTransitions from EnCap Investments. Alongside the transaction, Partners Group has committed to deploy more than $450 million in growth capital to support the expansion of PowerTransitions’ platform, which includes redeveloping legacy thermal facilities and advancing new energy solutions such as battery storage, hybrid generation, and powered land campuses for digital infrastructure.
Details of the Acquisition
The seed portfolio includes two well-established plants:
- Camden Power Plant (145 MW) – Located in Camden, New Jersey, the facility plays a role in providing reliable generation capacity within the PJM Interconnection, the largest competitive power market in the U.S.
- Dartmouth Power Plant (81 MW) – Situated in Dartmouth, Massachusetts, the facility contributes to the ISO New England grid, which faces increasing reliability challenges as renewable integration accelerates and regional demand grows.
By securing assets in both PJM and ISO-NE, PowerTransitions gains access to markets that are central to the nation’s evolving energy landscape. These regions are experiencing strong demand growth driven by expanding data center infrastructure, reshoring of U.S. manufacturing, and the electrification of transportation and industry.
Redevelopment Strategy and Vision
PowerTransitions’ core business model revolves around acquiring existing or retiring thermal power and industrial assets with valuable grid connections. Instead of allowing these facilities to fall into disuse, the company seeks to redevelop and repurpose them for modern energy needs. This includes:
- Conversion into new power generation assets that can deliver reliable baseload or peaking power.
- Integration of battery energy storage systems (BESS) to balance intermittency from renewables.
- Development of powered land campuses that serve data centers and advanced manufacturing facilities requiring secure, resilient electricity supply.
- Co-location opportunities with solar, storage, and other technologies to enhance site efficiency and sustainability.
Currently, the company has identified a pipeline of over 5 GW of thermal assets in constrained U.S. markets, where retiring capacity is leaving gaps in reliability. Alongside this, PowerTransitions is advancing a development pipeline exceeding 3.5 GW of projects designed to align with its redevelopment strategy.
Leadership Perspective
Sean Long, Co-Founder and Chief Executive Officer of PowerTransitions, emphasized the company’s dual mission of grid reliability and community revitalization.
“PowerTransitions is committed to preserving the operational excellence and local knowledge that plant employees bring to these facilities,” Long stated. “The acquisition of the Camden and Dartmouth plants represents an important first step in executing our vision. These are legacy thermal assets that play a critical role in ensuring reliable power supply. Our strategy is not only about redeveloping energy infrastructure but also about investing in the surrounding communities. We will continue to maintain jobs and local tax revenues for as long as practicable, and when the time comes, we will redevelop and repurpose these assets in ways that create new opportunities—whether through new generation, battery storage systems, or powered campuses.”
Long added that the company takes a long-term view of stewardship, balancing operational continuity with environmental remediation and the creation of sustainable economic activity.
Strategic Partnership with Partners Group
The backing of Partners Group provides PowerTransitions with significant capital resources and global expertise in infrastructure investment. Ed Diffendal, Co-Head of Infrastructure Americas at Partners Group, highlighted the importance of the transaction in establishing a scalable platform for growth.
“We are very pleased to simultaneously complete our acquisition of PowerTransitions and the company’s acquisition of the 226 MW seed portfolio,” Diffendal said. “This marks the beginning of an ambitious strategy to acquire legacy power assets and repower them with modern thermal generation while also co-locating renewables and battery storage. We see strong thematic tailwinds in the U.S. energy sector, and PowerTransitions is well-positioned to address these opportunities.”
Partners Group’s commitment to invest more than $450 million underscores its confidence in the PowerTransitions model and its relevance in a rapidly transforming energy system. By combining private capital with experienced industry leadership, the partnership aims to accelerate the redevelopment of critical infrastructure at a time when grid resilience, flexible capacity, and secure energy supply are in high demand.
Broader Industry Context
The acquisition comes at a pivotal moment for the U.S. power sector. While renewable energy deployment is accelerating at record speed, reliability challenges are becoming more evident, particularly in markets where aging fossil fuel plants are retiring faster than replacement capacity is coming online. Data center operators, industrial manufacturers, and utilities alike are seeking firm, dispatchable resources to complement variable renewable generation.
PowerTransitions’ approach—recycling legacy infrastructure into future-ready assets—offers a pragmatic path forward. By leveraging existing interconnections, transmission access, and industrial footprints, the company can shorten development timelines, reduce permitting hurdles, and provide cost-effective solutions for both energy supply and industrial development.
