PowerTransitions Acquires 323 MW Portfolio to Enter New York Power Market
April 22, 2026
PowerTransitions, a specialist in redeveloping legacy power facilities, has announced a strategic move to acquire a 323-megawatt portfolio of five operating power plants in New York from affiliates of Alliance Energy Group. This acquisition marks the company's entry into the critical New York market, a region grappling with rising electricity demand, grid reliability concerns, and an aging energy infrastructure.
The transaction involves the Batavia, Hillburn, Massena, Shoemaker, and Sterling plants, which collectively supply power across multiple zones of the New York Independent System Operator (NYISO). PowerTransitions plans to leverage the portfolio's broad geographic footprint and existing grid interconnections to co-locate new power generation and battery energy storage systems. This integrated redevelopment strategy is central to addressing local and regional demand growth on these brownfield energy campuses.
Upon closing, the deal will increase PowerTransitions' total operational assets to approximately 550 megawatts across seven power stations. The expansion provides the company with a strategically diverse platform within NYISO, positioning it to directly contribute to solving the state's pressing energy challenges. Sean Long, Co-Founder & CEO of PowerTransitions, stated, "We are thrilled to establish PowerTransitions’ presence in New York, one of the most compelling power markets in the country. The Alliance portfolio’s geographic reach gives us a diverse, strategically positioned portfolio to help assist with New York’s growing reliability needs."
The acquisition represents the latest growth initiative for PowerTransitions since its acquisition by global private markets firm Partners Group last year. Ed Diffendal, Co-Head of Infrastructure Americas for Partners Group, commented, "It reflects our shared conviction that legacy power assets, when thoughtfully redeveloped, can play a critical role in addressing grid reliability and the accelerating demand for power across the state." He highlighted the significant opportunities in the NYISO market due to its aging infrastructure and rising demand.
The agreement was signed on January 30, 2026, and is expected to close later this year, pending customary regulatory approvals. Norton Rose Fulbright represented PowerTransitions in the transaction, while Reed Smith represented Alliance Energy Group, with CIBC acting as financial advisor to Alliance.
Source: aijourn
