Lotus Completes Purchase of two Combined-Cycle Plants from Dominion EnergyDecember 14, 2018 in Press Releases
GREENWICH, Conn., Dec. 13, 2018 — Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, completed today the acquisition of two combined-cycle gas turbine (“CCGT”) power plants totaling 1,708 MW from Dominion Energy (NYSE:D). The two assets are comprised of the 1,240 MW Fairless Power Station (“Fairless”) located in Pennsylvania, and the 468 MW Manchester Street Power Station (“Manchester”) located in Rhode Island.
Fairless, which was constructed in 2004, is a highly efficient natural gas fired power plant, located 25 miles outside of Philadelphia in Fairless Hills, PA, within the EMAAC zone of PJM. Manchester, located in Providence, RI, was repowered as a CCGT in 1995 and dispatches into the SENE zone of ISO-NE. Both plants are located in regional transmission organizations that provide a forward capacity market for electric generation assets.
About Starwood Energy Group Global, LLC
Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its general opportunity funds and other affiliated investment vehicles, Starwood Energy Group has raised equity commitments of approximately $3 billion and has executed transactions totaling more than $7 billion in enterprise value. The Starwood Energy Group team brings extensive development, construction, operations, acquisition and financing expertise to its investments, with a focus on the natural gas and renewable power generation, and transmission sectors. Starwood Energy Group is an affiliate of Starwood Capital Group Global, L.P. Additional information about Starwood Energy Group as well as Starwood Capital Group can be found at swenergy.ua.verbinteractive.com.