Fortistar Acquires Castleton Power Plant in New York

Gas-fired Combined Cycle Power Plant is the Third in the State Owned by the Firm

WHITE PLAINS, N.Y.–(BUSINESS WIRE)–Fortistar announced today that it has closed on its purchase of Castleton Power, LLC, a 72 megawatt (MW) gas-fired combined cycle power plant located in Castleton-on-Hudson, NY. The General Electric (GE) Frame 6 turbine power plant dispatches into the NYISO Zone F. The seller was Castleton Energy Center, LLC (a portfolio company owned by a private investment fund managed by Wayzata Investment Partners LLC).

Fortistar currently owns and operates two other natural gas-fired combined cycle plants in New York: the 221 MW Lockport Energy Associates plant in Lockport; and the 55 MW North Tonawanda facility in North Tonawanda. These projects dispatch into NYISO Zone A. Like the Castleton plant, these two projects are based on the GE Frame 6 turbine. Fortistar also owns a 6 MW landfill gas facility in Albany, NY.

“This plant is a strategic investment that enhances our diverse energy generation asset portfolio while building on our existing operations in New York State,” said Mark Comora, CEO, Fortistar. “Plus, local energy generation creates jobs and keeps dollars in the community.”

For more than 30 years as a privately-owned firm, Fortistar has built, invested in and managed an unparalleled portfolio of successful energy generation projects in the U.S. and Canada. Fortistar’s ability to forge strong relationships with partners and local communities has been a hallmark of the company’s success.

Scotia Capital served as exclusive financial advisor to Castleton Energy Center, LLC.

ABOUT FORTISTAR

Headquartered in White Plains, New York, Fortistar is an opportunity-oriented, private investment and energy asset management firm that is distinguished by its experienced people with a deep understanding of energy operations, financing and development. Fortistar owns and operates lower carbon energy generating companies in The United States and Canada that support the transition to a low carbon economy. These companies include cogeneration facilities; compressed natural gas fueling stations; landfill power plants; projects that reduce carbon in industrial facilities, and biomass facilities.

Fortistar attributes its success to taking a long-term perspective of energy projects as well as having strong relationships with partners and local communities.

Fortistar companies include TruStar Energy, Primary Energy Recycling, Fortistar Methane Group, Fortistar Biomass Group, ClockIN, and Skyonic.

For more information, please visit www.fortistar.com.

Contacts
Makovsky
Andy Beck, 202-587-5634
[email protected]