(Reuters) – PE firm Carlyle has hired advisers to explore a sale of Cogentrix that could value the North Carolina-based energy producer at as much as $3 billion to $4 billion, the Financial Times reported, citing three people who had been informed about the matter.
Carlyle is also selling other energy resources owned by its infrastructure business in separate processes, according to Friday’s report.
Interest in utilities is increasing as technological innovations, such as artificial intelligence and data centers, drive energy demand.
Investment bank Lazard (NYSE:) and law firm Latham & Watkins have been hired to advise on the sale, the FT reported.
Carlyle and Latham & Watkins did not immediately respond to Reuters requests for comment, while Lazard declined to comment.
Cogentrix, which Carlyle bought from Goldman Sachs in 2012, has more than 70 gas, coal, solar and other renewable assets.
Last month, investment firms Global Infrastructure Partners and CPP Investments agreed to take US utility Allete (NYSE:) private in a $6.2 billion deal.
