Iberdrola sells US cogeneration plant to Energenic

Iberdrola has agreed to sell its 14.9 MW Hartford Steam cogeneration power plant to Energenic-US for about $50m.

Project Finance reports that the plant sells electricity to Hartford Hospital, which provides it with steam, and Connecticut Light & Power under long-term offtake contracts.

Energenic's owners are Marina Energy (50 per cent), which is itself a subsidiary of South Jersey Industries, and DCO Energy (50 per cent). The deal is subject to US Federal Energy Regulatory Commission approval.

Latham & Watkins is legal counsel to Iberdrola and Cozen O'Connor is counsel to Energenic.

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