On October 2, 2025, Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to invest US$1.0 billion (~C$1.37 billion) for a strategic minority position in AlphaGen, an independent power portfolio owned by ArcLight Capital Partners. AlphaGen operates more than 11 gigawatts of power assets in key U.S. markets. The transaction reflects increased demand for reliable electricity supply as artificial intelligence and electrification drive power needs, particularly in high-demand regions such as Pennsylvania, Ohio, and the PJM Interconnection. ArcLight Capital Partners has experience managing approximately 70 gigawatts of assets and 47,000 miles of electric and gas transmission infrastructure, representing about US$80 billion in enterprise value.

Weil, Gotshal & Manges LLP advised CPP Investments, while Kirkland & Ellis LLP acted as legal counsel to ArcLight Capital Partners.

The investment is subject to regulatory approvals and is expected to close in the first half of 2026.