Partners Group Acquires Middle River Power and Natural Gas Portfolio

Partners Group will acquire Middle River Power and a 1.9 GW portfolio of natural gas power plants in California. The portfolio includes 11 plants, valued at USD 2.2 billion. Middle River, a pioneer in on-site battery storage at gas plants, will continue operations post-acquisition.

The acquisition highlights the strategic importance of hybrid energy. Middle River's battery energy storage systems, charged by surplus renewable energy, enhance system reliability while reducing carbon emissions. This hybrid model secures long-term utility contracts of up to 15 years.

With intermittent renewables growing, this acquisition aligns with market trends. Partners Group plans to build new Hybrid Energy Centers, optimize assets, and explore acquisitions, supporting Middle River's transformative strategy.