|
AltAssets is the private equity news and research service from Almeida Capital
|
FREE newsletter RSS
INTELLIGENCE
RECRUITMENT
KNOWLEDGE BANK
EVENTS
SECTOR ANALYSIS
HEDGE FUNDS
|
PRINT THIS PAGE Tenaska Power Fund to sell Holland Energy power plant for $383m15/04/2008. Source: AltAssets. 
US energy-focused private equity fund Tenaska Power Fund has sold gas-fuelled power plant Holland Energy to Indiana electric cooperatives Wabash Valley Power and Hoosier Energy for $383m. The 665 megawatt natural gas-fuelled generating station in Illinois generates electricity for the Midwest Independent System Operator grid.
TPF acquired Holland Energy in 2006 as part of a $1.635bn acquisition of a 3,145 megawatt portfolio of six gas-fired generation assets in October 2006.
Paul Smith, senior managing director, Tenaska Capital Management, an affiliate of Omaha-based energy company Tenaska, said, 'The sale process has been a win-win for all parties involved. Holland is a quality power plant which will significantly meet the individual needs of both Hoosier Energy and Wabash Valley Power.'
TPF is a private equity partnership of institutional investors outside Tenaska's holding company structure. It was formed by the owners of Tenaska and is managed by TCM.
TPF closed in 2005 on $838m. The fund targeted investments in energy and power companies and assets in the US, focusing on the power generation, gas storage and midstream energy sectors. It is now fully committed.
Copyright © 2008 AltAssets
|
 
|
|
|
