November 26, 2024
FERC Approves Transfer of New Jersey Plants
FERC gave Ares EIF Management the go-ahead to transfer its ownership in two New Jersey cogeneration facilities to Excalibur Power.

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 EIF Management Excalibur Power
Logan Cogeneration Plant | Google Maps

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.

Ares EIF Management Excalibur Power
Carney’s Point Cogeneration Plant | Google Maps

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

Company NewsPJM

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