FIC Acquires Perfect Power, a U.S. Power Platform

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Postmedia has not reviewed the content. by Business Wire FIC Acquires Perfect Power, a U.S. Power PlatformAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Investment in an operating platform in ERCOT with a multi-gigawatt pipelineTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountHOUSTON & CHARLOTTE, N.C. — FIC Partners Management, LP (“FIC”) today announced that it has acquired Perfect Power LLC (“Perfect Power” or the “Company”), the developer, owner, and operator of the Jaguar Energy Center, a grid-interconnected battery energy storage and solar platform with up to 1.15 GW of planned capacity across approximately 4,500 acres. The Jaguar Energy Center delivers power into one of ERCOT’s fastest-growing regions.Perfect Power, initially formed in 2021, is led by a management team with decades of experience constructing renewables, battery storage, and thermal generation at scale across the U.S. Under FIC’s ownership, the Company plans to continue to pursue the growth of the Jaguar Energy Center as well as additional opportunities to support the country’s growing generation needs.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“Perfect Power is exactly the type of opportunity we created FIC to pursue — a contracted, in-service infrastructure asset paired with a clear, accretive growth pipeline in one of the most attractive power markets in the country. We are pleased to partner with the Perfect Power team, who have demonstrated their ability to develop and operate large-scale projects,” said Cay Freihofer, Co-Managing Partner of FIC. Cyrus Aghili, Co-Managing Partner of FIC continued, “The Texas Triangle is at the center of multi-decade demand growth driven by population demographics, industrial expansion, and data center development. Storage and renewables co-located on an already interconnected site provides a strong platform to serve that demand.”“Perfect Power has been looking forward to partnering with FIC to pursue this renewed growth chapter for our experienced team given our shared vision of scaling a best-in-class power platform,” said Tony Maselli, CEO of Perfect Power.FIC Partners Management, LP (“FIC”) is a middle-market investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. FIC partners with management teams and businesses to help accelerate the development of strategic assets that serve society’s growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com.Perfect Power focuses on investment opportunities across the transitioning electric grid. With expertise in power generation, renewable energy, and energy storage, Perfect Power specializes in asset development / redevelopment and asset optimization. Perfect Power actively partners with local developers, asset owners, and operators as part of its development strategy. For more information about Perfect Power, please visit www.PerfectPowerLLC.com.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.