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DigitalBridge Group, which owns data centers and other digital infrastructure, plans to buy ArcLight Capital Partners, a private power plant company, in a $1.05 billion deal, the companies said Wednesday.
Boston-based ArcLight owned 20.8 GW as of June 2025, according to a filing at the Federal Energy Regulatory Commission. It owned roughly 7 GW in the PJM Interconnection, a region with significant data center development, as of August 2025, the company said in another filing.
ArcLight has one of the largest private power generation portfolios in the United States and a roughly 15-GW project pipeline, according to the company.
“The combination forms a leading alternative asset manager at the convergence of power, AI, and digital infrastructure, bringing together two specialist platforms with combined assets representing more than $150 billion,” the companies said.
“AI is rewiring the global power equation, accelerating investment across generation, transmission, and behind-the-meter infrastructure,” DigitalBridge CEO Marc Ganzi said in the press release.
ArcLight will operate as a separately managed business as part of the DigitalBridge platform, the companies said.
The transaction is conditioned on a SoftBank Group affiliate buying DigitalBridge in a separate, previously announced deal. The ArcLight transaction is subject to closing conditions, including the expiration or early termination of the Hart-Scott-Rodino Antitrust waiting period, the Committee on Foreign Investment in the United States, FERC and the Federal Communications Commission.
The planned transaction marks the second recent deal between ArcLight and DigitalBridge. In March, ArcLight agreed to buy InfraBridge’s 50% stake in Invenergy’s 5.4-GW AMPCI Thermal Power, a jointly owned power portfolio. DigitalBridge owns InfraBridge.
