Rockland Capital, a private equity firm focused on the power sector, has closed its buy of three Illinois-based natural gas-fired generation facilities from Ameren Corp. No financial terms were disclosed.
HOUSTON, TX (PRWEB) February 03, 2014
Rockland Capital, LLC (“Rockland”) announced today that its wholly owned affiliate, Main Line Generation, LLC, has completed the acquisition of three natural gas-fired generation facilities from a subsidiary of Ameren Corporation (NYSE: AEE). The 1,166 MW portfolio consists of Grand Tower Energy Center, a 478-megawatt combined cycle facility, Elgin Energy Center, a 460-megawatt simple cycle facility and Gibson City Energy Center, a 228-megawatt simple cycle facility.
All of the plants are located in Illinois. Grand Tower and Gibson City are interconnected to the MISO system, and Elgin is interconnected to the PJM system. All facilities are merchant, selling energy and capacity into their respective markets.
“Rockland is excited to expand its footprint into the Midwest with this acquisition. We find the fundamentals of the MISO market to be very interesting, and Elgin, in the PJM RTO sub region, complements our existing activities in PJM East,” said Shane Litts, Partner of Rockland Capital.
This transaction marks the first acquisition for Rockland Power Partners II, LP (“RPP II”), a $425 million investment fund closed in December 2013. RPP II is the firm’s third investment pool focused on the power industry and was raised with broad support from new and existing investors resulting in an oversubscribed fund in less than six months.
About Rockland Capital
Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners II, Rockland Power Partners and Rockland Capital Energy Investments.