Starwood Energy Group Global LLC, a private investment firm focused on energy infrastructure, reports that an affiliate has entered into an agreement with Lakeside Energy LLC to acquire Lakeside Generation LLC, a 369-MW portfolio of three natural gas facilities, one located in Pennsylvania and two in New York.
The portfolio consists of Hazleton, a 158-MW peaking facility in Pennsylvania; Syracuse, a 103-MW combined cycle facility in New York; and Beaver Falls, a 108-MW cogeneration combined cycle facility in New York. Hazleton sells capacity and energy into the PJM power market, which serves 13 states and the District of Columbia. Syracuse and Beaver Falls sell capacity and energy into the NYISO power market, which serves the state of New York.
The transaction is expected to close in the first quarter of 2015. Financial terms of the transaction were not disclosed.