Cogentrix Portfolio Expands With Cogentrix Odyssey Holdings Acquisition
Global alternative asset manager, The Carlyle Group and its affiliated independent power producer and power generation asset manager, Cogentrix Energy Power Management, LLC, closed on the acquisition of a 100% interest in the Altura Cogen facility and a 50% interest in the Cedar Bayou 4 facility, both of which are located in Texas within the ERCOT market.
The Altura Cogen facility, located in Channelview, TX, is a 600 MW cogen facility that provides steam and electricity to Lyondell Chemical Company. Cedar Bayou 4, located in Baytown, TX, is a 550 MW facility. NRG owns the remaining 50% of Cedar Bayou 4 (“CB 4”).
Cogentrix immediately assumed asset management services for Altura and CB 4. The integration of O&M, at Altura, will occur over the next 120 days. NRG will remain the operator for CB 4.
Cogentrix CEO John Ragan pronounced that “…the acquisition is an excellent addition to the Cogentrix fleet, serving as a gateway to expand our footprint into the ERCOT market.”