/PRNewswire/ -- ArcLight Capital Partners, LLC ("ArcLight"), GE Energy Financial Services, a unit of GE (NYSE: GE), and the Government of Singapore Investment Corporation Pte Ltd ("GIC") announced today they have agreed to become partners in five Georgia natural gas-fired power plants that together make up the largest fully independent power producer in the southeastern United States. The GE unit and GIC will each acquire 24.95 percent of the portfolio from an affiliate of ArcLight, now its sole owner. An affiliate of ArcLight will retain 50.10 percent.
Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is expected to occur toward the end of the first quarter of 2011.
The plants, located throughout Georgia, comprise a combined cycle facility and four single-cycle peaking facilities, each of which is less than 10 years old. Together, they are capable of generating more than 2,500 megawatts of power, in several cases using GE gas-fired turbines. All five facilities, critical to the regional power supply and grid stability, are contracted under long-term agreements to investment-grade counterparties and are managed by Consolidated Asset Management Services, an ArcLight affiliate.
The portfolio comprises:
* Monroe – a 320-megawatt plant in Monroe, 50 miles east of Atlanta
* Walton – a 450-megawatt plant in Monroe, adjacent to the Monroe plant
* Washington – a 602-megawatt plant in Linton, 50 miles east of Macon
* Sandersville – a 640-megawatt plant in Sandersville, seven miles from the Washington plant
* Effingham – a 515-megawatt plant in Rincon, 20 miles north of Savannah
The portfolio is well positioned to benefit from the macroeconomic recovery and more stringent energy and carbon legislation as well as the boom in production of unconventional natural gas in the United States. In addition, the portfolio will support additional infrastructure investment in the region to meet the demand for power and accommodate the power supply reconfiguration expected to unfold over the next decade.
"Since the initial investment in this portfolio in 2007, ArcLight and CAMS have developed a strong track record of operational success and commercial reliability in a promising regional market," said Dan Revers, Managing Partner of ArcLight. "We are excited about the opportunity to partner with these two highly respected and valued-added investors, and we look forward to working closely with GE and GIC to maximize value across the portfolio and platform."
ArcLight has completed several transactions with GE Energy Financial Services, including the GE unit's lead lending of $98 million in senior secured credit facilities for the Sandersville power plant.
"This transaction enables us to deepen our relationship with ArcLight, establish ties with an important new partner, GIC, and work together on an attractive set of assets in a core focus area, thermal power generation," said Kevin Walsh, managing director and leader of Power and Renewables at GE Energy Financial Services.
"This is an attractive portfolio of contracted power generation facilities in a region experiencing an increasing demand for low carbon, efficient power. The completion of this transaction complements our growing portfolio of infrastructure investments in the US. We are delighted to have ArcLight and GE, who have extensive experience in owning and operating similar assets, as our partners in this deal," said Mr. Ang Eng Seng, Global Head of GIC's Infrastructure Group.
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Showing posts with label washington. Show all posts
Showing posts with label washington. Show all posts
Tuesday, January 25, 2011
Wednesday, August 26, 2009
Georgia Environmental Protection Division Issues Draft Permits for Plant Washington
(BUSINESS WIRE)--POWER4Georgians yesterday announced that the Georgia Environmental Protection Division (EPD) has issued draft permits for Plant Washington, a 850 megawatt coal-fired power plant being developed near Sandersville, in Washington County, Georgia.
The EPD issued a variety of draft permitting documents related to the 1,600-acre energy facility, including what are considered to be the four primary permits for the plant: the surface water withdrawal permit, the groundwater withdrawal permit, the water discharge permit, and the air permit. POWER4Georgians, a consortium of Georgia electric membership corporations (EMCs), filed the Plant Washington permit applications with the Georgia EPD in January 2008.
“This is an important step in the development of this power plant, which is critical to making sure that affordable and reliable power continues to be available to the citizens of Georgia,” said Dean Alford, spokesperson for POWER4Georgians. “While we recognize there is a lot of work remaining to be done, the draft permits are a very positive indication that Plant Washington is moving forward.”
“Given the economic challenges our state is facing, the jobs created during the construction of this plant will provide a tremendous benefit to Washington County and the surrounding region,” said Alford. “These jobs are part of a more than $2 billion investment in providing affordable energy, which is critical to a productive, competitive state economy. Once operational, Plant Washington could help attract new industry and jobs to Georgia and even help retain existing businesses and jobs because of availability of dependable and affordable electricity.”
Plant Washington will be one of the cleanest coal-fired power plants in the country, generating enough electricity to meet the annual needs of 500,000 to 700,000 Georgia homes.
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The EPD issued a variety of draft permitting documents related to the 1,600-acre energy facility, including what are considered to be the four primary permits for the plant: the surface water withdrawal permit, the groundwater withdrawal permit, the water discharge permit, and the air permit. POWER4Georgians, a consortium of Georgia electric membership corporations (EMCs), filed the Plant Washington permit applications with the Georgia EPD in January 2008.
“This is an important step in the development of this power plant, which is critical to making sure that affordable and reliable power continues to be available to the citizens of Georgia,” said Dean Alford, spokesperson for POWER4Georgians. “While we recognize there is a lot of work remaining to be done, the draft permits are a very positive indication that Plant Washington is moving forward.”
“Given the economic challenges our state is facing, the jobs created during the construction of this plant will provide a tremendous benefit to Washington County and the surrounding region,” said Alford. “These jobs are part of a more than $2 billion investment in providing affordable energy, which is critical to a productive, competitive state economy. Once operational, Plant Washington could help attract new industry and jobs to Georgia and even help retain existing businesses and jobs because of availability of dependable and affordable electricity.”
Plant Washington will be one of the cleanest coal-fired power plants in the country, generating enough electricity to meet the annual needs of 500,000 to 700,000 Georgia homes.
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Thursday, December 18, 2008
Marilyn Brown Briefs Policymakers on Solar Energy
Public Policy Professor Marilyn Brown spoke Monday to a luncheon briefing at the Rayburn House Office Building in Washington, D.C., about solar power. Brown, a professor in the Ivan Allen College of Liberal Arts, was one of three guests invited to give their views on the current state of solar technology, the probable future of these devices and potential barriers to implementing them.
The luncheon was hosted by the American Chemical Society’s Science and the Congress Project and was co-hosted by Rep. Gabrielle Giffords (D-AZ) and Rep. Ralph Hall (R-TX). Julia Hamm of the Solar Electric Power Association and Nate Lewis of the California Institute of Technology also spoke to the gathering.
Brown is one of Georgia Tech’s most sought after experts on energy policy. In addition to informing national leaders about energy policy, she is also the author of Georgia Tech’s quarterly energy sustainability index, the EnergyBuzz (www.gatech.edu/energybuzz).
She joined Georgia Tech in 2006 after a distinguished career at the U.S. Department of Energy’s Oak Ridge National Laboratory. There she held various leadership positions and led several major energy technology and policy scenario studies. Recognizing her stature as a national leader in the analysis and interpretation of energy futures in the United States, Brown remains affiliated with ORNL as a Visiting Distinguished Scientist.
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The luncheon was hosted by the American Chemical Society’s Science and the Congress Project and was co-hosted by Rep. Gabrielle Giffords (D-AZ) and Rep. Ralph Hall (R-TX). Julia Hamm of the Solar Electric Power Association and Nate Lewis of the California Institute of Technology also spoke to the gathering.
Brown is one of Georgia Tech’s most sought after experts on energy policy. In addition to informing national leaders about energy policy, she is also the author of Georgia Tech’s quarterly energy sustainability index, the EnergyBuzz (www.gatech.edu/energybuzz).
She joined Georgia Tech in 2006 after a distinguished career at the U.S. Department of Energy’s Oak Ridge National Laboratory. There she held various leadership positions and led several major energy technology and policy scenario studies. Recognizing her stature as a national leader in the analysis and interpretation of energy futures in the United States, Brown remains affiliated with ORNL as a Visiting Distinguished Scientist.
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Tuesday, December 2, 2008
National Policy Forum on Renewable Energy in America to be Webcast Live on Dec. 4
Energy experts will converge on Capitol Hill Thursday (Dec. 4) for the daylong Phase II Policy Forum on Renewable Energy in America to make policy recommendations for the incoming administration. The American Council on Renewable Energy and Verizon Communications will provide a free webcast of the event live throughout the day. Panel sessions will cover a wide range of energy policy initiatives including: policy for transportation fuels; policy for electric power; financing the renewable energy scale-up; and policy advice for the next president and Congress.
Thursday, Dec. 4, at 8:30 a.m. to 5 p.m., Eastern
The webcast will be available at no charge via
www.acorephaseii.com. Pre-event registration is
recommended by going to ACORE's Web site (upcoming events)
at www.acore.org .
Former Sen. Tom Daschle; best-selling author and New York
Times foreign affairs columnist Thomas L. Friedman; Iowa
Gov. Chet Culver; and James Woolsey, former Director of
Central Intelligence.
Phase II of the Renewable Energy in America National Policy
Forum was first held in 2002. The goal of the conference is
to convey the contribution of renewable energy to the
nation's energy needs by bringing together high-level
speakers to discuss the energy policy issues concerning the
national scale-up of renewable energy to a substantial
share of U.S. energy supply, energy efficiency, sustainable
development, the environment and related fields. More
information is available at www.acore.org.
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Fayette Front Page
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Georgia Front Page
Thursday, Dec. 4, at 8:30 a.m. to 5 p.m., Eastern
The webcast will be available at no charge via
www.acorephaseii.com. Pre-event registration is
recommended by going to ACORE's Web site (upcoming events)
at www.acore.org .
Former Sen. Tom Daschle; best-selling author and New York
Times foreign affairs columnist Thomas L. Friedman; Iowa
Gov. Chet Culver; and James Woolsey, former Director of
Central Intelligence.
Phase II of the Renewable Energy in America National Policy
Forum was first held in 2002. The goal of the conference is
to convey the contribution of renewable energy to the
nation's energy needs by bringing together high-level
speakers to discuss the energy policy issues concerning the
national scale-up of renewable energy to a substantial
share of U.S. energy supply, energy efficiency, sustainable
development, the environment and related fields. More
information is available at www.acore.org.
-----
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Fayette Front Page
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