Rockland Affiliate to Acquire Eagle Point Power Generation from Sunoco
HOUSTON, TX – February 3, 2012 — Rockland Capital, LLC (“Rockland”) announced today that an affiliate company is acquiring the Eagle Point power generation facility (“Eagle Point”) from Sunoco, Inc. Financial terms of the transaction were not disclosed.
Eagle Point, a nameplate 225 MW natural gas-fired power facility located in Westville, New Jersey, began commercial operation in 1991 as a cogeneration facility providing steam to the adjacent Eagle Point refinery. The plant has operated principally in a combined cycle mode since October 2009 when the refinery ceased operations, and currently sells capacity and energy into the PJM market.
“Eagle Point presents an opportunity for Rockland to implement an ambitious commercial agenda at a clean, natural gas-fired facility located in the highly favorable EMAAC region of PJM,” said Jim Maiz, Partner of Rockland Capital. “Rockland’s expertise in realizing operational improvements and navigating energy markets will allow us to unlock the full value of the asset.”
Eagle Point is an investment of Rockland Power Partners, the private equity fund currently being invested by Rockland.
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 and Rockland Capital Energy Investments and has offices in Houston and New York.