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Tuesday, 27 October 2015 09:09

Texas private equity firm to acquire Ludington co-gen power plant

Written by  MiBiz Staff
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LUDINGTON – A natural gas-fired cogeneration power plant in one lakeshore community will soon be under new ownership.

Boston-based ArcLight Capital Partners LLC recently announced an agreement to sell 100-percent of its indirect interests in Michigan Power LP, which owns the 125-megawatt co-gen plant in Ludington, to a Texas-based private equity firm, according to a statement.

The acquirer, Wolverine Power Group, is a subsidiary of Rockland Power Partners II LP, which is owned and managed by Rockland Capital.

Both parties expect the deal to close by the end of 2015, according to the statement. Terms of the deal were not disclosed.

Michigan Power sells its total electrical output to Consumers Energy Co. via a long-term power purchase agreement. The facility also supplies steam and compressed air to the nearby Occidental Chemical Corp. in Ludington.

Read 2107 times Last modified on Sunday, 08 November 2015 16:44

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