FTAI Infrastructure to Sell 505MW Ohio Plant to MARA for $1.5bn
FTAI Infrastructure has agreed to sell its Long Ridge Energy & Power business to MARA for $1.5bn including assumed debt and a Barclays-supported bridge loan. The deal covers a 505MW combined-cycle gas plant and 1,600-acre Ohio site and is set to close in H2 2026 pending HSR and FERC approvals.
1. Sale Agreement Details
FTAI Infrastructure has entered a definitive agreement to divest its Long Ridge Energy & Power subsidiary to MARA for a total consideration of $1.5bn, which includes assumed debt and a bridge loan arranged with Barclays. The agreement transfers all operational and development rights for the Ohio facility and retains the existing Long Ridge Energy team under the new ownership.
2. Overview of Long Ridge Asset
The sale encompasses a 505MW combined-cycle gas turbine power plant in Hannibal, Ohio, plus 1,600 acres designated for a digital infrastructure campus with power, water, land and fiber connectivity. The site can support over 1GW of combined generation and usage capacity and has drawn interest for AI and high-performance computing tenants.
3. Financial and Timeline Considerations
Closing is projected in the second half of 2026, pending Hart-Scott-Rodino clearance and FERC authorization. The assets are forecast to deliver approximately $144m of annualized EBITDA based on H2 2025 performance, and FTAI plans to deploy sale proceeds toward debt reduction and strategic portfolio optimization.