Fortistar buys Castleton Power Plant in New York

Fortistar closed on its purchase of Castleton Power, a 72 MW gas-fired combined cycle power plant located in Castleton-on-Hudson, New York.

The General Electric Frame 6 turbine power plant dispatches into the NYISO Zone F. The seller was Castleton Energy Center (a portfolio company owned by a private investment fund managed by Wayzata Investment Partners).

Fortistar currently owns and operates two other natural gas-fired combined cycle plants in New York: the 221 MW Lockport Energy Associates plant in Lockport; and the 55 MW North Tonawanda facility in North Tonawanda. These projects dispatch into NYISO Zone A. Like the Castleton plant, these two projects are based on the GE Frame 6 turbine. Fortistar also owns a 6 MW landfill gas facility in Albany, NY.

“This plant is a strategic investment that enhances our diverse energy generation asset portfolio while building on our existing operations in New York State,” said Mark Comora, CEO, Fortistar. “Plus, local energy generation creates jobs and keeps dollars in the community.”

For more than 30 years as a privately-owned firm, Fortistar has built, invested in and managed an unparalleled portfolio of successful energy generation projects in the U.S. and Canada. Fortistar’s ability to forge strong relationships with partners and local communities has been a hallmark of the company’s success.

Scotia Capital served as exclusive financial advisor to Castleton Energy Center.

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