Ara Energy acquires Gate City Renewable Fuels
In Texas, Ara Partners says Ara Energy is acquiring Gate City Power, Gate City Renewable Fuels, and an interest in the JET retail network for approximately $875 million. The transaction will be financed with equity from funds and co-investment vehicles managed by Ara and its affiliates.
The acquisition advances Ara’s Energy strategy to commercially optimize and decarbonize critical energy infrastructure across North America and Europe through targeted operational improvements, technology and fuel transitions, and disciplined capital deployment, while enhancing terminal value through economic decarbonization.
Portfolio at a glance:
Gate City Power: thermal generation assets across NYISO and ISO NE totaling ~2.2 gigawatts of capacity
Gate City Renewable Fuels: U.S. ethanol production assets totaling ~400 million gallons per year
JET network: ~970 retail fuel stations across Germany and Austria, dispensing ~5.2 billion liters per year.
Ara Energy secured rights to acquire the Gate City Power and Gate City Renewable Fuels portfolios from HF Capital, and the JET network in partnership with Ara Infrastructure, creating an integrated portfolio designed to streamline contributions to Ara Energy’s strategic objectives.
Category: Fuels
