Energy Capital Partners Closes on Acquisition of Ohio Generation Assets and Bolt-on to EquiPower Resources Corp.
Dec 18, 2013
ENERGY CAPITAL PARTNERS CLOSES ON ACQUISITION OF OHIO GENERATION ASSETS AND BOLT-ON TO EQUIPOWER RESOURCES CORP.
SHORT HILLS, NJ, December 18, 2013 – Energy Capital Partners today announced it closed on the acquisition of the 444 MW Richland power generation facility located in Defiance, Ohio and the nearby 20 MW Stryker power generation facility located in Stryker, Ohio. The facilities are comprised of seven individual peaking units that are approximately 90% natural gas fired with the balance utilizing fuel oil. Richland and Stryker are located in the constrained ATSI zone within PJM, which comprises much of Northern Ohio.
The facilities were added to the EquiPower Resources Corp. (“EquiPower”) portfolio. Energy Capital believes Richland and Stryker are highly complementary to EquiPower’s existing fleet of largely combined cycle gas and baseload facilities and will strengthen the generation platform’s position through a growth in scale in PJM.
About Energy Capital Partners
Energy Capital Partners is a private equity firm with offices in Short Hills, New Jersey and San Diego, California. ECP has over $8 billion of capital commitments under management and is focused on investing in the power generation, electric transmission, midstream gas, renewable energy, oil field services and environmental services sectors of North America's energy infrastructure. The fund's management has substantial experience leading successful energy infrastructure investments. For more information, visit www.ecpartners.com