Rockland Capital Announces Investment in Gregory Power Partners
HOUSTON, TX – June 9, 2011 — Rockland Capital, LLC (“Rockland”) announced today that its affiliate, RC Delta Holdings, LLC is acquiring a managing interest in Gregory Power Partners (“Gregory”), a natural gas-fired power facility located in Gregory, Texas.
Rockland is acquiring the project from an affiliate of Arroyo Energy Investors LLC. Financial terms of the transaction were not disclosed.
Gregory, a 400 megawatt cogeneration facility, began commercial operation in 2000 and is located approximately 10 miles from Corpus Christi. It is one of the most efficient natural gas-fired plants in Texas, largely due to its cogeneration configuration with the adjacent Sherwin Alumina facility.
“Rockland feels that Gregory’s competitive operating profile positions it to benefit from the growth expected in the ERCOT market over the next few years,” said Scott Harlan, Managing Partner of Rockland Capital.
“Gregory represents a great opportunity for Rockland. The investment is consistent with our continuing strategy of creating value for investors through the active management and optimization of power generation assets.”
Gregory is the third 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.