US energy storage firm Plus Power up for sale at ~$1.5bn, attracting PE interest

🤝 Supported by Bank of America and Scotiabank, Plus Power has begun a strategic review process for its sale.

🔋 Boasting a robust portfolio spread across 25 US states and Canada, with about 2.6 GW of assets in development or already constructed.

💰 Recently securing $1.8 billion in financing for Battery Energy Storage System (BESS) projects across the US.

💲 Plus Power’s sale is expected to yield a slightly higher valuation compared to industry peers like Broad Reach Power, Jupiter Power, and Key Capture Energy.

🏦 Private equity firms, including Brookfield, OMERS, Quinbrook, KKR, and Arclight Capital Partners, are expressing strong interest.

🤝 Other potential suitors include Enbridge, Repsol, and RWE.