May 23, 2007
Alliance Closes Mirant NY-Gen Purchase
Alliance Energy Renewables has completed its acquisition of Mirant NY-Gen, a portfolio comprising 25 MW of hydroelectric capacity and 95 MW of natural gas peakers, for $5.1 million. "We see these assets as prime for retrofit for modern upgrades," says Chairman Sam Nappi, referencing the company's plans to restore the dam at 12 MW Swinging Bridge in Mongaup, N.Y., and convert the 51 MW peaker in Hillburn and 44 MW Shoemaker in Middletown, N.Y., to run on biofuels.
Parent company Alliance Energy already owns a combined 220 MW of gas-fired generation in western New York, including a 99 MW unit in Ogdensburg, N.Y., which it had marketed to select buyers late last year (PFR, 11/17), 67 MW in Batavia and 65 MW in Sherrill. Its 85 MW unit in Massena recently sold to the U.K.'s Renewable Power & Light.