Arclight Energy Partners Fund VII, L.P., a fund managed by ArcLight Capital Partners, LLC, agreed to acquire 6,750-Megawatt Fossil Generating Portfolio of Public Service Enterprise Group Incorporated (NYSE:PEG) for $1.9 billion on August 12, 2021. The consideration is subject to customary adjustments. The transaction is subject to the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended); approval by the Federal Energy Regulatory Commission and certain state regulatory bodies; and other customary closing conditions. The transaction is expected to be completed late in the fourth quarter of 2021 or the first quarter of 2022. Goldman Sachs & Co. is serving as financial adviser, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel, to PSEG in connection with the transaction. Latham & Watkins LLP is serving as primary legal counsel to ArcLight. Latham & Watkins LLP represents ArcLight in the transaction with a corporate deal team led by David Allinson and Jane Greyf. Chirag Dedania and Warren Lilien advised on project development and finance matters.