FERC on Thursday gave energy investment firm Ares EIF Management the go-ahead to transfer its ownership in two New Jersey cogeneration facilities to Excalibur Power (ER16-2217, ER17-2515).

Ares owns a 242-MW facility in Logan Township and has a 60% stake in the 285-MW Chambers cogeneration facility in Carneys Point. Atlantic Power owns the other 40% of the latter plant. Both plants have FERC-approved rate schedules to provide reactive power to PJM.

The commission also granted a request to waive the 90-day notice period for transferring the plants, although Ares and Excalibur had sought to obtain the waiver by Dec. 15.

— Rory D. Sweeney