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  1. Ares EIF Management affiliate pursues 1,060 MW gas project in Virginia

    The Virginia State Corporation Commission is in the early stages of processing a Sept. 14 application from C4GT for a certificate of public convenience and necessity to construct and operate a combined-cycle power plant, with a net nominal generating capacity of 1,060 MW, in Charles City County, Virginia. The facility will operate as an independent merchant power plant to supply electricity on a wholesale basis to the electricity markets in Virginia and surrounding regions. It will qualify as an exempt wholesale generator under the Public Utility Holding Company Act of 1935, as amended. C4GT was formed for the purpose of developing, constructing, owning, and operating the facility. C4GT has retained NOVI Energy to support and manage all development actions for this project. NOVI Energy provides a broad range of services in energy management and energy infrastructure development for industrial, institutional, commercial and utility companies located throughout the world. Development of the C4GT Facility will be funded by Ares Charles City, which was established to invest in C4GT. Ares Charles City is an affiliate of Ares EIF Management. Ares EIF has a 29-year track record of investing in power and energy infrastructure assets. Since inception, Ares ElP-managed funds have made about 70 equity investments in nearly 130 different power and energy infrastructure assets with a combined underlying enterprise value exceeding $20 billion. Ares EIF-managed funds are experienced investors in new-build generation and transmission in the United States. C4GT intends to construct, operate, and maintain the facility in Charles City County at 3001 Roxbury Road. The site is located along Roxbury Road (State Route 106), about 2,000 feet north and west of its intersection with Chambers Road (State Route 685). The site is located about one half mile from the Roxbury Industrial Park and less than one mile from the existing Chickahominy substation owned by Dominion Virginia Power . The site is comprised of about 88 undeveloped acres. The facility intends to interconnect to Virginia Electric's transmission grid at either the 230 kV or 500 kV voltage levels at the Chickahominy substation via new lines from the power plant site. The facility will procure natural gas from a 16-inch Virginia Natural Gas intrastate natural gas transmission line located along the eastern edge of the site. This will be a two-on-one combined-cycle station, with a net nominal generating capacity of 1,060 MW at 95 degrees F ambient temperature, consisting of two natural gas-fired combustion turbine generators with downstream natural gas supplementally fired heat recovery steam generators. The steam that is generated in the HRSGs is to be used in a steam turbine generator for additional power output and increased thermal cycle efficiency. C4GT is seeking the option to install either of these H-class combustion turbines: the General Electric 7HA.02 or the Siemens SGT6-8000H (1.4+). Regardless of the manufacturer that ultimately is selected for the turbines, the power island would consist of combustion turbines, a steam turbine, and HRSGs. The combustion turbines will be fired with natural gas and will be furnished with low NOx burners. The combustion turbines will be furnished with evaporative inlet air cooling to lower the inlet air temperature during periods of high ambient temperature. Each HRSG will include a natural gas-fired duct burner to increase steaming capacity. Each HRSG will be furnished with superheating, reheating, and economizer sections required to achieve a highly efficient removal of heat from the combustion turbine gas stream, and achieve a low stack gas temperature. Nitrogen oxide emissions from each of the combined cycle combustion turbine generators and associated duct-fired HRSGs will be controlled by dry low-NOx burners in the CTGs, with selective catalytic reduction in the HRSG. An oxidation catalyst section located within each HRSG will reduce the quantity of carbon monoxide and volatile organic compounds exiting the stack. Particulate matter and sulfuric acid emissions are minimized by the use of pipeline quality natural gas as fuel. The steam turbine will have a nominal generating capacity of 356 MW-473 MW, depending on the manufacturer selected, and will be a single shaft turbine with high pressure/intermediate pressure (HP/IP) turbines and a low pressure turbine discharging to the condenser. Main steam will enter the HP turbine, and will exit back to the cold reheat section of each HRSG. Although C4GT does not have a power purchase agreement with Virginia Electric for the output of the facility, the utility's forecasted capacity gap demonstrates the need for Virginia-based capacity resources, the application said. Moreover, another utility serving Virginia, Appalachian Power, has recently forecasted that its total internal energy requirements to increase at a compound average growth rate of 0.3 percent through 2030. In 2020 Appalachian Power is anticipated to experience a capacity shortfall based upon its own assumptions regarding the tuning and parameters of PJM's Capacity Performance rule. Although C4GT said it does not have a power purchase agreement with Appalachian Power for the output of the facility, Appalachian Power's forecast also supports the assertion that additional capacity resources are required in the commonwealth. One initial step for the project in the commission's review process came on Oct. 18, when the Virginia Department of Environmental Quality filed a wetlands impact report. According to an onsite wetland and stream preliminary jurisdictional determination by the U.S. Army Corps of Engineers on Aug. 18, wetland areas and stream corridors were identified within the project area. The preliminary jurisdictional determination located about 10.65 acres of wetlands and 700 linear feet of waters within the project area. The presence of these resources was derived from review of on-site conditions by Environmental Consulting & Technology Inc. Appropriate state and federal permits must be obtained if unavoidable impacts to jurisdictional waters are required for project construction. The DEQ Piedmont Regional Office will make the final permitting decisions, the report noted. Also, on Oct. 5, the Virginia DEQ advised the commission about its air impact review for the project. As is customary in power project reviews, and in keeping with a prior agreement, the DEQ requires 60 days, following receipt of sufficient copies of a complete application document, to initiate the coordinated review of the application and prepare its report to the SCC staff. The review period began on Oct. 4 and final review comments will be submitted to the SCC on or before Dec. 2, barring an unforeseen suspension of the review for additional information. PJM Interconnection has posted to its website an August 2016 Feasibility Study. This preliminary study, as per PJM custom, does not name the project company. But the details of the project match the C4GT project. The intent of the Feasibility Study is to determine a plan, with high level estimated cost and construction time estimates, to connect the subject generation to the PJM network at a location specified by the unnamed project developer. The developer has proposed a natural gas-fired combined-cycle facility located in Charles City, Va. The installed facilities will have a total capability of 1,060 MW with 1,060 MW of this output being recognized by PJM as capacity. The proposed in-service date for this project is March 31, 2020. This study does not imply a Virginia Electric commitment to this in-service date. This project, under PJM queue #AB2-068, will interconnect with the Virginia Electric system at one of the following points of interconnection: •Option 1 will connect via a new three breaker ring bus switching station that connects at the Chickahominy 500-kV substation. •Option 2 will connect via a new three breaker ring bus switching station that connects at the Chickahominy 230-kV substation open bay.

    Online Articles

    Online Articles

    Wed, 19 Oct 2016

  2. Ares EIF Management Affiliate Pursues 1,060-MW Gas Project in Virginia

    The facility will operate as an independent merchant power plant to supply electricity on a wholesale basis to the electricity markets in Virginia and surrounding regions.

    Online Articles

    Online Articles

    Wed, 19 Oct 2016

  3. IHS Markit: Financial investors spent nearly $245B in upstream energy in last decade

    Lured by significant upside potential, vast numbers of attractive opportunities for investment, and ample cash and funding, financial investors spent nearly $245 billion on upstream energy transactions during the past decade, with their annual transaction activity increasing six-fold, according to ...

    Online Articles

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    Thu, 11 Aug 2016

  4. White Deer Energy acquires RockPile Energy Services

    RockPile Energy Services LLC, a subsidiary of Triangle Petroleum Corp., has been acquired by White Deer Energy.

    Online Articles

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    Fri, 9 Sep 2016

  1. Saudi shipping firm to be top VLCC operator

    Online Articles

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    Mon, 18 Jul 2016

  2. Post Oak Energy Capital closes third fund with $600M in commitments

    Post Oak Energy Capital LP has closed its third fund, Post Oak Energy Partners III, LP at its hard cap of $600 million.

    Online Articles

    Online Articles

    Tue, 24 May 2016

  3. I Squared Capital acquires Lincoln Clean Energy, develops portfolio of renewable assets in North America

    The transaction includes an operating solar facility in southern NJ and Lincoln’s development and asset management platforms, including a robust development pipeline. Lincoln plans to deploy $250 million in equity investments through 2018.

    Online Articles

    Online Articles

    Tue, 19 Jan 2016

  4. Orion Energy Partners names members of new senior advisory board

    Orion Energy Partners LP, a private equity firm providing creative debt and preferred equity solutions to middle market energy infrastructure businesses, has elected Jim Bender, Don Lucey, and Matt Valentine as initial members of its newly formed senior advisory board.

    Online Articles

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    Fri, 18 Dec 2015

  5. ONEOK names three additional board members

    The board of directors of ONEOK Inc. has elected Brian L. Derksen, Randall J. Larson, and Kevin S. McCarthy to its board, effective today.

    Online Articles

    Online Articles

    Tue, 29 Dec 2015

  6. Calpine announces addition of Gerald Greenwald to its board of directors

    Calpine Corporation announced today the appointment of Gerald Greenwald to its Board of Directors. Greenwald is a founding partner of the Greenbriar equity group, which makes private equity investments in the transportation sector.

    Online Articles

    Online Articles

    Tue, 17 Jul 2001

  7. NextDecade appoints new CFO, signs LNG agreements

    NextDecade LCC has appointed Benjamin Atkins as CFO, and has also signed heads of agreements (HOAs) totaling 14 million tons per annum (Mtpa) for the sale and purchase of liquefied natural gas.

    Online Articles

    Online Articles

    Thu, 5 Nov 2015

  8. Online exclusive: Oil and gas M&A activity on the uptick in 2015

    While this year is likely to see a renewed level of mergers and acquisitions activity across the oil and gas sector globally, 1Q 2015 witnessed stalled activity due to a low oil price environment. 

    Online Articles

    Online Articles

    Thu, 21 May 2015

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