New Jersey company, equity investor buy Dover cogeneration plant
DB Energy Assets, LLC, a partnership of DCO Energy, LLC, and the second flagship Basalt fund “Basalt II,” acquired the natural gas-fired 111 MW Energy Center Dover, LLC from Clearway Energy Group, LLC.
Energy Center Dover, LLC is a cogeneration facility that delivers electricity to the Delmarva Power grid connection to PJM Interconnection. The plant produces thermal energy used by Kraft Heinz’s Dover food products plant and Proctor & Gamble’s Dover wipes manufacturing facility.
“We are very excited to operate this important cogeneration and power facility in Dover,” said Gary Fromer, CEO of DCO Energy. “As a long-time South Jersey-based organization, Delaware is literally in our backyard. Along with our Wilmington city district energy facility, we are thrilled to expand our role as part of the Delaware business community and to continue to deliver efficient, reliable power and thermal energy to our customers in Delaware.”
In 2017, DCO acquired thermal plant assets that help provide heating and cooling to commercial and government office buildings in downtown Wilmington, including 800 King Street and the New Castle County Courthouse. The district energy plant can heat and cool up to three million square feet of office space. The plant had been owned by Pepco, parent company of Delmarva Power.
DCO Energy, LLC is an independent energy development company specializing in the development, engineering, construction, start-up, commissioning, operation, maintenance and management, and ownership of central energy centers, renewable energy projects and combined heat, chilling and power production facilities across North America and the Caribbean. The comapny is based in Mays Landing, NJ.
Founded in 2000, DCO Energy has developed and operated energy systems delivering over 500 MW of electric power, 110,000 tons of chilled water, and more than four million pounds per hour of installed boiler capacity. For more information on DCO Energy, visit www.dcoenergy.com.
Basalt I and Basalt II are two of the flagship Basalt Infrastructure Partner funds. They are infrastructure equity investment funds focusing on investments in utilities, power, transport, and communications infrastructure in North America and Europe. For more information, visit www.basaltinfra.com.
Article Source https://delawarebusinessnow.com/2020/06/co-gen-plant/