Starwood Energy Group To Acquire Lakeside Generation LLC

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Starwood Energy Group To Acquire Lakeside Generation LLC

Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, has announced that an affiliate has entered into an agreement with Lakeside Energy LLC to acquire Lakeside Generation LLC.

Lakeside Generation LLC is composed by 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 subject to customary conditions and regulatory approvals and is expected to close in the first quarter of 2015. Financial terms of the transaction were not disclosed.

Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its general opportunity funds Starwood Energy Infrastructure Fund I and II, and other affiliated investment vehicles, Starwood Energy Group manages total equity commitments in excess of US$2 billion and has executed transactions totaling more than US$4 billion in enterprise value.

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