US investment firm ArcLight Capital Partners has committed US$1 billion in equity to establish Anchor Point Transmission, a new independent transmission company targeting investment in high-voltage infrastructure.
The platform will focus on working with utilities to develop, finance and advance transmission projects as rising power consumption from electrification, manufacturing expansion and artificial intelligence data centres puts additional pressure on the US grid.
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ArcLight said Anchor Point is intended to serve as a long-term partner to utilities as they plan and deliver transmission infrastructure required to support load growth and maintain grid reliability.
ArcLight has appointed Michael Deggendorf as executive chairman and Justin Campbell as president of Anchor Point.
“The US transmission system requires substantial investment to support reliability, economic growth, renewable integration, and rapidly increasing electricity demand,” Deggendorf said. “Meeting that challenge requires thoughtful new approaches to partnership, planning, and execution that can accelerate critical infrastructure investment and strengthen and expand the grid.”
The launch comes as utilities and grid operators face growing requirements for new transmission capacity to connect generation and serve increasingly concentrated sources of electricity demand.
Anchor Point’s management team has collectively developed more than US$4 billion of transmission projects. Its experience also includes more than 1,500 miles of constructed transmission infrastructure across multiple US power markets and regulatory jurisdictions.
ArcLight said its broader infrastructure portfolio provides Anchor Point with access to technical, commercial and operational expertise as the company pursues new transmission opportunities.
“Utilities face a record need for transmission investment while managing affordability, reliability, and increasingly complex planning needs,” said Justin Campbell, president of Anchor Point. “Anchor Point was built to be a flexible, value-added long-term partner, bringing development, deep planning and regulatory expertise, and disciplined execution to help utilities meet their customers’ evolving needs.”
In 2023, ArcLight agreed to acquire Duke Energy’s commercial distributed generation business for an enterprise value of US$364 million. The transaction included REC Solar’s operating assets, development pipeline and O&M portfolio, as well as distributed fuel-cell projects managed by Bloom Energy.
