Carlyle Group to purchase Red Oak power plant, buys five others

September 9
11:31 AM 2013

The Carlyle Group announced that it would be acquiring the Red Oak power generation plant in Sayreville, New Jersey. Carlyle bought the facility from Energy Capital Partners. The said facility is an 823-megawatt plant powered by natural gas.

Carlyle also bought five power generation facilities in California in a separate deal. These included the 122-megawatt Midway natural gas-fired power plant in Firebaugh and four facilities under the CalPeak portfolio. The four natural-gas fired plants in Escondido, Firebaugh, San Diego and Vacaville have a total power generating capacity of 198 megawatts. The Midway plant was purchased by Carlyle from a Starwood Energy Group Global affiliate. The CalPeak plants were acquired from Blackstone's GSO Capital Partners and Starwood and Tyr Energy subsidiaries.

Cogentrix bought the power plants in behalf of Carlyle.Congentrix, bought by Carlyle last year, is the power affiliate of the American-based global asset management firm.

The specific financial terms of each of the six transactions were not disclosed. Since Carlyle's acquisition of Cogentrix, however, the total enterprise value of Carlyle's deals involving power assets had risen to over USD 1.2 billion. 

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