LONDON--(BUSINESS WIRE)--Castleton Commodities International LLC (“CCI” or the “Company”) today announced that it has closed on an acquisition, through one of its subsidiaries, of a combined cycle power plant (CCGT) located in the port of Rotterdam, Netherlands from InterGen, a privately held global power generation and development company. Post the acquisition, CCI will own and operate approximately 2,000 megawatts of power generation globally.
MaasStroom (or the “facility”) is a 426 megawatt natural gas fired CCGT that uses a Siemens SGT5-4000F turbine in single shaft configuration, making it one of the most efficient gas fired power plants in the Netherlands. The facility supplies power into the TenneT grid, which manages the high-voltage grid in the Netherlands and large parts of Germany.
“The MaasStroom acquisition is an opportunity to increase our activities in the rapidly changing and attractive European energy markets. We are also well-positioned to create further value at the facility by providing ancillary services,” said Arie Pilo, Executive Director in CCI’s Origination and Principal Investments group. “We are pleased to add this facility to our global power portfolio and remain focused on seeking additional investment opportunities with a strategic fit.”
Allen & Overy served as legal counsel to CCI in the transaction.
About Castleton Commodities International LLC
CCI is a global commodities merchant with an integrated set of operations consisting of physical and financial commodities trading and the ownership, operation, and development of commodities- related upstream and infrastructure assets. The Company markets a broad range of physical commodities including natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, petrochemicals, electric power, coal, metals and financial instruments related to commodities. CCI is headquartered in Stamford, Connecticut with offices in Calgary, Canada; Geneva, Switzerland; Houston, Texas; London, United Kingdom; Shanghai, China; Singapore; and Montevideo, Uruguay.