FIC buys Perfect Power and its 1.15GW Texas energy platform
What's the deal? FIC Partners Management has acquired Perfect PowerDealroom has a profile for this one. Try Dealroom →, the developer and operator of the Jaguar Energy Center — a grid-connected battery storage and solar platform with up to 1.15GW of planned capacity across roughly 4,500 acres in Texas. Terms were not disclosed.
The players: FIC is a middle-market investment firm focused on critical infrastructure across energy and power. Perfect Power, formed in 2021, develops and optimises assets across the transitioning electric grid, with expertise in generation, renewables, and storage.
Why now? The Jaguar Energy Center feeds power into one of the fastest-growing regions served by grid operator ERCOTDealroom has a profile for this one. Try Dealroom →. FIC pointed to the Texas Triangle as a hub of long-term demand driven by population growth, industrial expansion, and data centre development.
What's the endgame? Under FIC's ownership, Perfect Power plans to keep growing the Jaguar Energy Center and pursue further projects to meet US generation needs. FIC framed the asset as a rare combination — a contracted, in-service site with room to expand.
"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," said Cay Freihofer, co-managing partner of FIC.
Co-managing partner Cyrus Aghili added that storage and renewables "co-located on an already interconnected site provides a strong platform to serve that demand." Perfect Power chief executive officer Tony Maselli said the team looked forward to "scaling a best-in-class power platform."
The signal: Investors are consolidating around interconnected power assets that can serve surging electricity demand from data centres and industry. FIC — itself the product of a merger between Emerald Bridge Capital and First Infrastructure Capital Advisors — is betting that battery storage and solar in Texas will anchor multi-decade growth.
Read more: Associated Press
