Quantum Capital Selling Cogentrix Gas-Fired Plants for $4 Billion

In August 2024, Quantum Capital Group entered into an agreement to acquire Cogentrix Energy, an independent power producer, from another investment firm (Carlyle) for $3 billion (see Quantum Capital Buying Cogentrix Gas-Fired Plants for $3 Billion). The Cogentrix portfolio comprises 5.5 gigawatts of natural-gas-fired power plants located throughout PJM (the M-U region), ERCOT (Texas), and ISO-NE (New England). M-U molecules feed most power plants in PJM and ISO-NE, which is why we are interested. Yesterday, Vistra Corp. announced it is buying the Cogentrix Energy plants from Quantum in a deal worth $4 billion. Not a bad deal for Quantum---buy and hold Cogentrix for 15 months, then flip the assets for a cool $1 billion profit.

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