PowerTransitions Purchases Roseton
The Roseton energy plant in the Town of Newburgh.
Orange County Partnership helped secure $300,000 from NYSERDA for redevelopment analysis and $500,000 from FAST NY focused on clean-tech deployment.
PowerTransitions®, a leading independent power producer specializing in the redevelopment of legacy power and industrial facilities, recently announced that it has entered into an agreement to acquire the 1,242 MW Roseton Generating Facility in Newburgh, New York from a subsidiary of Castleton Commodities International LLC (“CCI”).
The Roseton Generating Facility is a dual-fuel natural gas fired power plant that has supplied power into NYISO Zone G since 1974. Its scale and existing grid infrastructure make it an ideal candidate for co-location development into a robust energy campus, including new energy storage systems, allowing PowerTransitions to layer in new capacity to enhance reliability for the surrounding grid.
The agreement to acquire Roseton follows PowerTransitions’ previously announced agreement to acquire a portfolio of five power plants from affiliates of Alliance Energy Group and will, once closed, increase the Company’s total power generation assets under operation to approximately 1.8 GW across 8 power stations in PJM, NYISO and ISO-NE. This transaction represents the latest add-on that PowerTransitions has made to its platform since Partners Group acquired the company last year.
“The agreement to acquire Roseton is a transformative step for PowerTransitions and a natural complement to the Alliance portfolio we announced last month,” said Sean Long, Co-Founder & Chief Executive Officer of PowerTransitions. “Roseton is one of the largest and well-maintained operating power plants in the Hudson Valley, and its existing grid connections and site infrastructure present an exceptional opportunity to develop a multi-use energy campus at scale to support reliability in the sub-region. We look forward to working with the plant’s experienced workforce and the surrounding communities to ensure continued reliability as electricity demand grows in the region while investing in the long-term future of new energy assets on site.”
“Roseton represents an important step in PowerTransitions’ strategy to build a scaled platform of strategically located power assets in New York,” said Ed Diffendal, Head of Infrastructure Americas for Partners Group. “The site’s scale, infrastructure, and position within NYISO create significant opportunities for future redevelopment. We look forward to continuing our partnership with the PowerTransitions team as they expand and optimize the platform to help meet evolving power needs across the region.”
The acquisition is expected to close later this year, subject to customary closing conditions and regulatory approvals.
