Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that it has signed an agreement to sell a 50% equity interest in its Compass Power Generation gas-fired portfolio to JERA. Compass Power Generation is comprised of the 840 MW Marcus Hook Energy Center, the 173 MW Dighton facility and the 160 MW Milford facility.
Starwood Energy acquired Marcus Hook in 2016 and Milford and Dighton in 2017. The portfolio was combined and refinanced in the Term Loan B market in December 2017, earning the distinction of “North America Conventional Power Project of the Year” from Power Finance and Risk.
“We are thrilled to have JERA as a partner in this portfolio. JERA’s worldwide expertise will provide significant value as we continue to operate and expand the facilities,” said Himanshu Saxena, Chief Executive Officer of Starwood Energy.
Established in 2015, JERA is an equal joint venture of two Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company.