Sempra Energy completes sale of US UGS assets to ArcLight Capital
US-based power and gas infrastructure company Sempra Energy has completed the sale of its non-utility gas storage facilities (UGS) to an affiliate of ArcLight Capital Partners for a total consideration of US$328m in cash. The transaction was announced at the beginning of January 2019 and includes several UGS assets with a total operating capacity of 42.7 bcf (1.2 bcm), of which the 22.3 bcf (630 mcm) Mississippi Hub storage facility in Simpson County, Mississippi, and the 20.4 bcf (576 mcm) Bay Gas storage facility in Southwest Alabama.
The company is undertaking a comprehensive strategic review of its business portfolio and is implementing a divestment programme including its US wind and solar assets, as well as certain midstream assets. In December 2018, it completed the sale of renewable energy assets to the electricity and gas provider Consolidated Edison (Con Edison) for a total consideration of approximately US$1.6bn in cash, including several operational solar power plants along with solar and battery storage development projects representing 980 MWac of installed capacity.
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