Ara Energy to Acquire Gate City Power, Gate City Renewable Fuels, and Interest in JET Retail Network for ~$875 Million
HOUSTON, March 11, 2026 /PRNewswire/ — Ara Partners (“Ara”), a global private markets firm focused on industrial decarbonization, announced today that Ara Energy is acquiring Gate City Power, Gate City Renewable Fuels, and an interest in the JET retail network for approximately $875 million. The transaction will be financed with equity from funds and co-investment vehicles managed by Ara and its affiliates.
The acquisition advances Ara’s Energy strategy to commercially optimize and decarbonize critical energy infrastructure across North America and Europe through targeted operational improvements, technology and fuel transitions, and disciplined capital deployment, while enhancing terminal value through economic decarbonization.
Portfolio at a glance:
- Gate City Power: thermal generation assets across NYISO and ISO‑NE totaling ~2.2 gigawatts of capacity
- Gate City Renewable Fuels: U.S. ethanol production assets totaling ~400 million gallons per year
- JET network: ~970 retail fuel stations across Germany and Austria, dispensing ~5.2 billion liters per year.
Ara Energy secured rights to acquire the Gate City Power and Gate City Renewable Fuels portfolios from HF Capital, and the JET network in partnership with Ara Infrastructure, creating an integrated portfolio designed to streamline contributions to Ara Energy’s strategic objectives.
Shameek Konar, Partner and Head of Ara Energy, said:
Ara Energy’s investments span three uncorrelated sectors—power, biofuels, and delivery and distribution—allowing us to de‑risk portfolio returns and capture compelling opportunities across the energy landscape,
“By optimizing assets and decarbonizing when and where economically attractive, we increase grid capacity, strengthen energy security, and reinforce the long‑term viability of critical energy infrastructure.”
Ara Energy’s leadership team brings deep operating and M&A experience across power, fuels, and retail. Led by Shameek Konar, former CEO of Pilot Company, the team includes James Chiu (Partner), David Sims (Managing Director), and Matthew Dunn (Principal). Together, the team has scaled supply of biofuels, integrated lower-carbon fuels into retail channels, and executed complex acquisitions, divestitures and optimizations across power generation, fuel trading, and customer supply businesses.
These transactions are expected to close in early 2026, subject to receipt of required regulatory approvals and customary conditions.
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Ara Energy to Acquire Gate City Power, Gate City Renewable Fuels, and Interest in JET Retail Network for ~$875 Million, source
