Lotus to Acquire Lakeside Generation LLCDecember 5, 2014 in Press Releases
THE 369 MEGAWATT NATURAL GAS PORTFOLIO SUPPLIES POWER AND CAPACITY TO PJM AND NYISO
Greenwich, CT – DECEMBER 5, 2014 – Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that an affiliate has entered into an agreement with Lakeside Energy LLC to acquire Lakeside Generation LLC, a 369 MW portfolio of three natural gas facilities, one located in Pennsylvania and two in New York.
The portfolio consists of Hazleton, a 158 MW peaking facility in Pennsylvania; Syracuse, a 103 MW combined cycle facility in New York; and Beaver Falls, a 108 MW cogeneration combined cycle facility in New York. Hazleton sells capacity and energy into the PJM power market which serves 13 states and the District of Columbia. Syracuse and Beaver Falls sell capacity and energy into the NYISO power market which serves the state of New York.
The transaction is subject to customary conditions and regulatory approvals and is expected to close in the first quarter of 2015. Financial terms of the transaction were not disclosed.
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 Starwood Energy Infrastructure Fund I and II, and other affiliated investment vehicles, Starwood Energy Group manages total equity commitments in excess of $2 billion and has executed transactions totaling more than $4 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.
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