What Advanced Power does

Advanced Power is a Swiss-incorporated (Zug), privately-held power generation development, financing, and asset management company founded in 2000 and acquired by ArcLight Capital Partners in July 2025. The company develops, owns, and operates low-carbon power generation projects across North America and Europe, with a current pipeline of 12+ GWac of generation capacity and 10+ GWh of battery storage projects spanning development, construction, and operational phases. Its core technology stack includes combined-cycle natural gas turbines (CCGT), simple cycle natural gas peakers, utility-scale solar PV, and grid-scale battery energy storage systems (BESS), with a differentiated capability in behind-the-meter energy solutions that bypass standard interconnection timelines. Operationally, Advanced Power manages four large CCGT facilities (Carroll County 700 MW, Cricket Valley 1,141 MW, South Field 1,182 MW, plus sold European assets Dils-Energie and Malženice) and a growing portfolio of solar and storage projects primarily in Texas.

The company's business model operates across three revenue streams: (1) Development Services generating professional services fees and equity returns through project sales or retained ownership; (2) Asset Management Fees on over $3 billion of assets under management for institutional and strategic investors; and (3) Equity Investment Returns from co-invested stakes in developed projects. Advanced Power has raised and deployed more than $5 billion in equity and debt capital across its history, with the recent ArcLight Capital acquisition providing an initial $1 billion equity commitment and potential for $5+ billion over five years to enable a 20 GW natural gas buildout targeting AI and data center demand. Its go-to-market is enterprise field sales with senior leadership involvement, targeting data centers/hyperscalers, utilities, load-serving entities, and institutional investors.

Customer relationships span a blue-chip ecosystem of institutional capital providers (BlackRock, TIAA, Prudential, JERA, Marubeni), strategic infrastructure buyers (RWE, E.ON, Sabanci Renewables, Greenflash Infrastructure), and tier-1 OEMs/EPC contractors (GE Vernova, Bechtel, Siemens Project Ventures). The Boston-headquartered company operates offices in Boston and Houston, with a team of 70+ professionals maintaining an 89% retention rate.

Name

Advanced Power

Legal name

Advanced Power AG

Website

https://advanced-power.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Advanced Power is a Swiss-based, privately-held power generation developer and asset manager that develops, finances, and operates utility-scale CCGT, solar PV, and battery storage projects across North America and Europe, serving data centers, utilities, and institutional investors with a 12+ GW pipeline and $3 billion AUM.

Ownership category

akta.pro rank

Headquarters

HQ city

Zug

HQ country

Switzerland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Development Services: Advanced Power develops power generation projects from concept through commercial operation, generating development fees and equity returns through project sales or retained ownership positions.
2. Asset Management Fees: Manages low-carbon and renewable energy projects in construction and operation for institutional and strategic investors, earning management fees on over $3 billion of assets under management.
3. Equity Investment Returns: Advanced Power invests alongside investors in projects and realizes returns through equity appreciation, project monetization, and long-term ownership stakes.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Advanced Power develops, owns, finances, and manages utility-scale low-carbon power generation projects spanning combined-cycle natural gas turbines (CCGT), simple-cycle natural gas peakers, utility-scale solar PV, and grid-scale battery energy storage systems (BESS). The company operates across three integrated pillars: Development Services (12+ GWac generation and 10+ GWh battery storage delivered through project development from concept to commercial operation), Financial Structuring (over US$5 billion raised and invested in equity and debt capital), and Asset Management (over US$3 billion of power generation assets managed for institutional and strategic investors across the United States and Europe).

Product overview

Advanced Power is a power generation development, financing, and asset management company that develops, owns, and operates low-carbon energy projects. The company operates across three core service pillars: Development Services (developing large-scale generation solutions including CCGT natural gas, solar PV, battery energy storage systems, and wind), Financial Structuring Services (raising equity and debt capital for energy projects), and Asset Management Services (managing assets in construction and operation for institutional investors). The project portfolio includes operational assets such as Carroll County Energy (700 MW CCGT), Cricket Valley Energy (1,141 MW CCGT), and South Field Energy (1,182 MW CCGT); proposed projects including Maple Creek Energy (1,200 MW CCGT), Chestnut Run Energy (1,300 MW CCGT), and various solar-plus-storage facilities; and sold projects including Cutlass Solar II, Oriana Solar, and Rock Rose Energy Storage. The company manages over $3 billion in assets and has raised more than $5 billion in equity and debt capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services
• Financial Structuring Services
• Asset Management Services
• Carroll County Energy
• Cricket Valley Energy Center (CVEC)
• South Field Energy
• Cutlass Solar
• Talitha Energy
• T-Power
• Malzenice Power Station A 420 MW gas-fired combined-cycle power facility in Malženice, Slovakia, developed in partnership with Siemens Project Ventures. Operational since January 2011. It remains the biggest CCGT power plant in Slovakia.

Quantifiable outcome

• 12+ GWac of generation projects and 10+ GWh battery storage projects developed
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• BechtelcoreStrategic or Co-development Partner · 27 October 2025Bechtel serves as EPC contractor for Maple Creek Energy project in Indiana. BDC Power Holdings (a Bechtel company) is also a developer alongside Advanced Power for the Maple Creek natural gas-fired power project.
• GE VernovacoreTechnology or Integration · 27 October 2025GE Vernova supplies 7HA.03 gas turbine for Maple Creek Energy's first phase combined-cycle facility delivering over 1.2 GW of generation capacity to the MISO grid.
• Greenflash InfrastructureminorOthers · 15 October 2025Greenflash acquired the 200 MW/400 MWh Rock Rose battery storage project from Advanced Power. Greenflash is a Houston-based energy company expanding its ERCOT portfolio.
• GEcoreTechnology or IntegrationEquipment supplier and technology partner providing gas turbine technology for power generation facilities including Carroll County Energy and South Field Energy.
• Siemens Project VenturescoreStrategic or Co-development PartnerStrategic partner for project development including T-Power in Belgium and Malženice Power Station in Slovakia.
• BechtelcoreStrategic or Co-development PartnerEngineering, procurement and construction partner for power generation projects.
• Tessenderlo Chemie NVcoreStrategic or Co-development PartnerIndustrial partner for T-Power project development in Belgium. Acquired T-Power from subsequent owners in 2018.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• LS Power: US-based independent power developer and operator with deep CCGT, renewables, and BESS development expertise and similar institutional-investor-led financing model. Multiple Advanced Power senior leaders (CEO Thomas Spang, President Andrew Degon) previously held senior roles at LS Power, making it the closest organizational and operational analogue.
• Calpine: Largest US fleet of natural gas-fired and geothermal power generation, with deep CCGT expertise and a similar focus on dispatchable low-carbon capacity. Direct competitor for CCGT development projects and a likely strategic acquirer of Advanced Power-developed assets.
• Apex Clean Energy: US-based independent renewable energy developer with utility-scale wind, solar, and storage projects and similar institutional investor backing. Direct competitor for solar and BESS development opportunities and co-development partnerships in Advanced Power's target geographies.

Broad incumbents

• Vistra Corp: Large US independent power producer with a diversified CCGT, nuclear, solar, and battery storage portfolio serving competitive markets (PJM, ERCOT). Competes with Advanced Power for hyperscaler and utility-scale PPAs and is acquiring natural gas generation to serve data center load.
• NextEra Energy Resources: World's largest renewable energy generator and a major US power developer with wind, solar, and battery storage expertise. Competes for utility-scale renewable PPAs and increasingly for hybrid solar+storage projects in the same geographies as Advanced Power.
• Engie: Global independent power producer with significant CCGT and renewables presence in Europe and the Americas. Comparable as an acquirer of Advanced Power-developed European assets (similar to RWE and E.ON transactions) and as a competitor in the data center power market.
• RWE: European integrated energy major that acquired Advanced Power's Dils-Energie (920 MW CCGT in Belgium) in 2021. Acts as both a project buyer and a competitor in transatlantic CCGT development, particularly for hyperscaler customers.
• E.ON: European integrated energy company that acquired Advanced Power's Malženice Power Station (420 MW CCGT in Slovakia) in 2006. Comparable as a long-term European utility-scale generation acquirer and operator.

Emerging players

• Bloom Energy: Provider of behind-the-meter solid oxide fuel cell solutions targeted at data centers and large commercial customers. Competes in the same behind-the-meter, speed-to-power niche that Advanced Power targets with its BTM offerings for hyperscalers.
• Blackstone Energy Partners: Private equity energy infrastructure investor with significant power and renewable development exposure. Comparable as both a financial backer (BlackRock and Blackstone-affiliated vehicles already partner with Advanced Power-adjacent sponsors) and a competitive acquirer of developed power assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/279760

Revenue estimate

Valuation estimate

Number of profiles

Profiles35 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Advanced Power