Castleton Commodities International LLC Completes Acquisition of Ørsted's 50% Interest in the Enecogen Power Plant
LONDON, Aug. 6, 2018 /PRNewswire/ -- Castleton Commodities International LLC ("CCI" or the "Company") today announced that its subsidiary has closed on the acquisition of Ørsted's 50% ownership stake in the Enecogen power plant in Rotterdam, the Netherlands.
The transaction, which Ørsted previously announced in June, has an effective date of July 31, 2018.
Enecogen is a natural gas fired combined cycle plant ("CCGT") with a capacity of 870MW that produces power for up to 1.4 million Dutch homes. Enecogen is the most efficient gas-fired power plant in the Netherlands and one of the most efficient in Europe. The plant went into commercial operation in January 2012.
CCI also owns and operates MaasStroom, a 426 megawatt natural gas fired CCGT in Rotterdam, the Netherlands. Post this acquisition, CCI will own or provide management services to 11 power generation assets totaling approximately 3,400 megawatts of generation capacity across the US and Europe.
"We are pleased to add this facility to our European power portfolio as Enecogen provides CCI the opportunity to further develop our activities in the European energy markets," said Arie Pilo, Head of CCI's European Power Investments group. "We look forward to a smooth ownership transition and to developing a long-term collaborative partnership with Eneco."
Loyens & Loeff served as legal counsel to CCI in the transaction.
About Castleton Commodities International LLC
CCI is a global commodity merchant with integrated operations consisting of marketing and merchandising commodities and the ownership, operation and development of commodities-related upstream and infrastructure assets. CCI markets a broad range of physical commodities including electric power, natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, base metals, and petrochemicals. CCI is headquartered in Stamford, Connecticut with offices in Calgary, Canada; Geneva, Switzerland; Houston, Texas; London, United Kingdom; Shanghai, China; Singapore; and Montevideo, Uruguay.
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