Starwood Energy Group Global LLC, the Greenwich-based private investment firm focused on energy infrastructure, is selling a 50 percent equity interest in its Compass Power Generation natural-gas-fired portfolio to JERA. Financial details were not available.
Compass Power Generation is composed of the 840 MW Marcus Hook Energy Center, the 173 MW Dighton facility and the 160 MW Milford facility. Starwood acquired the Marcus Hook power plant, located in Pennsylvania, in 2016 and the Milford and Dighton plants, both in Massachusetts, in 2017. The portfolio was combined and refinanced in the Term Loan B market in December 2017.
Established in 2015, JERA is an equal joint venture of two Japanese electric companies, TEPCO Fuel & Power Inc. and Chubu Electric Power Co.