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(Reuters) – PE agency Carlyle has employed advisers to discover a sale of Cogentrix that would worth the North Carolina-based energy producer at as a lot as $3 billion to $4 billion, the Monetary Occasions reported, citing three individuals briefed on the matter.
Carlyle can also be promoting different energy belongings owned by its infrastructure enterprise in separate processes, based on the report on Friday.
Curiosity in utility corporations are on the rise as technological improvements, comparable to synthetic intelligence and information facilities, increase energy demand.
Funding financial institution Lazard and legislation agency Latham & Watkins have been employed to advise on the sale, the FT reported.
Carlyle and Latham & Watkins didn’t instantly reply to Reuters requests for remark, whereas Lazard declined to remark.
Cogentrix, which was purchased by Carlyle from Goldman Sachs in 2012, has extra then 70 fuel, coal, photo voltaic and different renewable belongings.
Final month, funding corporations International Infrastructure Companions and CPP Investments agreed to take U.S. utility Allete personal in a $6.2 billion deal.
(Reporting by Sourasis Bose in Bengaluru; Modifying by Shounak Dasgupta)
