From 2010 through 2013, Energy Capital formed EquiPower, a power generation company, through multiple acquisitions of both single assets and portfolios of assets. EquiPower owned and operated nine power plants, totaling 4,685 MWs of combined cycle natural gas and coal-fired power plants across the deregulated Northeast and Mid-Atlantic U.S. power markets (Connecticut, Massachusetts, Pennsylvania, Illinois, and Ohio). EquiPower predominantly focused on acquiring highly efficient, favorably positioned, environmentally compliant, combined cycle natural gas facilities in markets that were expected to experience tightening power prices as the result of power plant retirements. During our ownership, we formed a management team (composed of individuals who we had deployed from a previously exited power generation of ours) and established a 24/7 commercial desk to manage near- and long-term commercial operations.
In April 2015, Energy Capital closed on the sale of EquiPower to Dynegy Inc.