FTAI Infrastructure Inc. agreed to sell its Long Ridge Energy & Power division to a MARA Holdings, Inc. subsidiary. The transaction value totals approximately $1.52 billion. The sale includes a 485-megawatt combined cycle gas power plant. The deal also covers 1,600 acres of land along the Ohio River. The transaction awaits regulatory approvals for a scheduled close in the third quarter of 2026.
FTAI will use the proceeds to eliminate $1.16 billion of Long Ridge’s debt. The company will also repay $300 million of its own corporate debt. This divestiture allows FTAI to focus on its freight rail and terminals segments. CEO Ken Nicholson stated the deal will unlock shareholder value and increase future free cash flow.