ArcLight Capital Partners is putting $1.0 billion of equity behind a new independent transmission company called Anchor Point Transmission. The Boston-based firm announced the launch on Aug. 24.
The goal is to partner with utilities and speed up construction of high-voltage transmission lines, as electrification, manufacturing, and AI compute push the grid harder than it's used to.
The company is new. The people running it are not.
Fresh Name, Familiar Faces
ArcLight tapped two transmission veterans to lead Anchor Point:
Michael Deggendorf, Executive Chairman, previously held executive roles at AEP, Great Plains Energy, Transource Energy, and Grid Assurance
Justin Campbell, President, previously worked at GridLiance, Tallgrass Energy, and Edison Transmission
Together, the team has developed or originated more than $4 billion in transmission projects and built over 1,500 miles of line since the early 2000s.
They're backed by ArcLight's own track record, too. Since 2001, the firm has owned, controlled, or operated over 70 GW of assets and 48,000 miles of electric and gas transmission and storage infrastructure, worth more than $90 billion.
The Pitch to Utilities
Campbell said utilities are facing record transmission needs while juggling affordability, reliability, and planning demands. Deggendorf echoed that, calling for new approaches to partnership and execution to speed up grid buildout.
Between the two of them, the message is clear. Utilities need more wire, faster, and Anchor Point wants to be the one holding the spool.
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