Rockland Capital Announces Acquisition of the Whitetower Portfolio
HOUSTON, TX – May 9, 2019 – Rockland Capital, LP (“Rockland”) announced today that one of its funds has acquired 100% of the interests in Rolls Royce Power Development Limited – now renamed Whitetower Energy Limited (the “Portfolio”) – from Rolls Royce Plc.
The 308 MW Portfolio is comprised of five natural gas peaking facilities located throughout the United Kingdom. Each site is equipped with a minimum of one 50 MW unit which sell electricity, capacity and ancillary services into the United Kingdom’s wholesale markets on a merchant basis.
“Whitetower Energy mirrors Rockland’s other recent peaker acquisitions, applying a similar thesis to a well-developed power market which needs flexible, low cost and reliable capacity to balance a grid increasingly dependent upon renewable generation” said Scott Harlan, Managing Partner of Rockland Capital. “We believe we are well-suited to realize substantial operating efficiencies across the Portfolio and to capitalize on an attractive entry price for peaking assets that participate in energy and capacity markets with characteristics similar to deregulated markets in the US.”
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 and European power sector. The firm manages Rockland Power Partners, Rockland Power Partners II and Rockland Power Partners III and is headquartered in Houston, Texas.