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Investment in an operating platform in ERCOT with a multi-gigawatt pipeline
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HOUSTON & CHARLOTTE, N.C. — FIC Partners Management, LP (“FIC”) today announced that it has acquired Perfect Power LLC (“Perfect Power” or the “Company”), the developer, owner, and operator of the Jaguar Energy Center, a grid-interconnected battery energy storage and solar platform with up to 1.15 GW of planned capacity across approximately 4,500 acres. The Jaguar Energy Center delivers power into one of ERCOT’s fastest-growing regions.
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Perfect Power, initially formed in 2021, is led by a management team with decades of experience constructing renewables, battery storage, and thermal generation at scale across the U.S. Under FIC’s ownership, the Company plans to continue to pursue the growth of the Jaguar Energy Center as well as additional opportunities to support the country’s growing generation needs.
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“Perfect Power is exactly the type of opportunity we created FIC to pursue — a contracted, in-service infrastructure asset paired with a clear, accretive growth pipeline in one of the most attractive power markets in the country. We are pleased to partner with the Perfect Power team, who have demonstrated their ability to develop and operate large-scale projects,” said Cay Freihofer, Co-Managing Partner of FIC. Cyrus Aghili, Co-Managing Partner of FIC continued, “The Texas Triangle is at the center of multi-decade demand growth driven by population demographics, industrial expansion, and data center development. Storage and renewables co-located on an already interconnected site provides a strong platform to serve that demand.”
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“Perfect Power has been looking forward to partnering with FIC to pursue this renewed growth chapter for our experienced team given our shared vision of scaling a best-in-class power platform,” said Tony Maselli, CEO of Perfect Power.
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About FIC
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FIC Partners Management, LP (“FIC”) is a middle-market investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. FIC partners with management teams and businesses to help accelerate the development of strategic assets that serve society’s growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com.
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About Perfect Power
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Perfect Power focuses on investment opportunities across the transitioning electric grid. With expertise in power generation, renewable energy, and energy storage, Perfect Power specializes in asset development / redevelopment and asset optimization. Perfect Power actively partners with local developers, asset owners, and operators as part of its development strategy. For more information about Perfect Power, please visit www.PerfectPowerLLC.com.
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