Texas-based Richland Stryker Investment LLC announced Monday its sale of its subsidiary Richland-Stryker Generation LLC to Energy Capital Partners, with an office in the Short Hills section of Millburn. Terms of the deal were not disclosed.
According to the announcement, the sale includes two gas/oil fired peaking power generation facilities totaling 464 MW, both in Ohio. RSI has owned the two generating stations since 2011, when it acquired the operating facilities from FirstEnergy Corporation. RSI's acquisition of the two peaking stations was led by Quintana Infrastructure & Development LLC, which also maintained principal responsibility for the ongoing management of the business of RSG and the daily operations of the facilities.
RSI is owned by affiliates of QID, Starwood Energy Group Global LLC, BlackRock Inc., First Capital LLC, Gordy Gas Corporation and Post Oak Energy Capital L.P. Jones Day was engaged as legal counsel representing RSI on both the acquisition and subsequent divestiture of the two generating stations. JP Morgan acted as RSI's exclusive financial advisor on the transaction, RSI said in a statement.