PowerTransitions to Enter New York Market with Acquisition of 323 MW of Operating Power Generation Assets

HOUSTON--(BUSINESS WIRE)--PowerTransitions®, a leading independent power producer specializing in the redevelopment of legacy power and industrial facilities, announced today that it has entered into an agreement to acquire a portfolio of five power plants totaling 323 MW, along with associated pipeline infrastructure, from affiliates of Alliance Energy Group ("Alliance").

The Alliance portfolio is comprised of five plants—Batavia, Hillburn, Massena, Shoemaker and Sterling—totaling 323 MW, supplying power across multiple NYISO zones throughout New York State. The portfolio’s broad geographic footprint creates additional opportunities for co-locating new power generation and battery energy storage facilities on brownfield energy campuses, with each campus offering existing grid connections that can be enhanced or expanded to meet local and regional demand growth.

The transaction marks PowerTransitions' entry into the New York market and will increase its total power generation assets under operation to approximately 550 MW across 7 power stations. The Company will be positioned across multiple NYISO zones, enabling it to directly assist, through its integrated development strategy, with the state's most pressing energy challenges—increasing electricity demand, grid reliability, and the broader electrification of New York's economy. This transaction represents the latest add-on that PowerTransitions has made to its platform since Partners Group acquired the company last year.

"We are thrilled to establish PowerTransitions' presence in New York, one of the most compelling power markets in the country," said Sean Long, Co-Founder & Chief Executive Officer of PowerTransitions. "The Alliance portfolio's geographic reach gives us a diverse, strategically positioned portfolio to help assist with New York’s growing reliability needs. At each of the sites, we see a real opportunity to preserve existing and create new jobs, support local tax bases, and invest in new power generation and energy storage systems that will meet the growing energy demands and extend the productive life of these sites for decades to come."

"This acquisition represents an important expansion into the New York market for PowerTransitions," said Ed Diffendal, Co-Head of Infrastructure Americas for Partners Group. "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. The NYISO market presents significant opportunities given its aging infrastructure and rising demand, and we look forward to supporting the next phase of development at and around these sites."

PowerTransitions is being represented by Norton Rose Fulbright and Alliance is being represented by Reed Smith, with CIBC acting as financial advisor to Alliance.

The acquisition was signed on January 30, 2026 and is expected to close later this year, subject to customary closing conditions and regulatory approvals.

About PowerTransitions®

PowerTransitions® is a leading independent power producer specializing in owning operating legacy power generation facilities and redeveloping retired power and industrial facilities into new power generation, energy storage systems and on-site data center campuses. PowerTransitions leads all aspects of its redevelopment projects, from deconstruction and remediation of the sites to development, financing and owning new power generation, energy storage facilities, and powered land for data center campuses. For more information on PowerTransitions, please visit www.power-transitions.com or follow us on LinkedIn.

About Partners Group

Partners Group is one of the largest firms in the global private markets industry, with around 2,000 professionals and over USD 185 billion in assets under management globally. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, royalties, and special opportunities. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information on Partners Group, please visit www.partnersgroup.com or follow them on LinkedIn.