Cogentrix Embraces the Sealed Deal: Carlyle’s Full Ownership of Hamilton Portfolio
The venture began nearly one year ago today when Carlyle acquired the Hamilton portfolio from Panda. What originated as a 50-50 joint venture with EIG, a global energy investment fund, has now evolved to Carlyle becoming the sole owner of the Liberty and Patriot plants.
The portfolio consists of two combined cycle assets — Liberty and Patriot — both of which are 829 MW located in Towanda, PA, and Montgomery, PA, respectively. Liberty and Patriot provide the Cogentrix portfolio with baseload capacity in the largest U.S. power market ꟷ PJM. This diversifies our portfolio in such a way that lessens our exposure to capacity prices and gives us more exposure to the economics of producing and selling electricity.
Cogentrix provides O&M, asset management and energy management services.
This closing was truly a first of its kind event for Cogentrix, as we completed the close in the early stages of the COVID-19 pandemic.