29 July 2004 - Redwood II, a US company owned by ArcLight Capital Partners, LLC announced Wednesday that it has acquired ten power generation facilities from Redwood, LLC, a wholly owned subsidiary of John Hancock Life Insurance Company.
Redwood L.L.C. exercised its first right of refusal to purchase the plants from El Paso Energy. The plants were among 25 domestic power plants that El Paso had agreed to sell to Northern Star Generation, LLC.
ArcLight Capital Partners, LLC is one of the world's leading energy infrastructure investing firms with more than $2.5bn under management. ArcLight invests throughout the energy industry value chain in hard assets that produce high current income and capital appreciation.
Founded in 2001, ArcLight, with headquarters in Boston and offices in New York City, has 24 investment professionals and is led by Managing Partner Daniel R. Revers and Senior Partner Robb E. Turner.