ArcLight Capital Partners announces agreement to sell 125 MW natural gas-fired plant in Michigan

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ArcLight Capital Partners announces agreement to sell 125 MW natural gas-fired plant in Michigan

ArcLight Capital Partners, LLC has announced that ArcLight Energy Partners Fund II, L.P. and ArcLight Energy Partners Fund V, L.P. have entered into an agreement to sell 100% of the indirect interests in Michigan Power LP, LLC, the owner of a cogeneration facility located in Ludington, Michigan to a subsidiary of Rockland Power Partners II, L.P. 

Michigan Power is a fully contracted, 125 MW natural gas-fired combined cycle cogeneration plant that sells 100% of its electric output to Consumers Energy Company under the terms of a long-term power purchase agreement (PPA). 

Additionally, the project supplies steam and compressed air to Occidental Chemical Corporation's Ludington plant under the terms of a steam sales agreement (SSA). 

The sale is expected to close by year end following receipt of customary approvals.

ArcLight is a private equity firm focused on North American and Western European energy assets. Since its establishment in 2001, the company has invested over $13.1 billion across multiple energy cycles in more than 90 investments. 

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