trending Market Intelligence /marketintelligence/en/news-insights/trending/-J8w7doidIg5p686JNuKFQ2 content esgSubNav
In This List

FERC clears Macquarie Infrastructure's sale of minority stake in Ohio gas plant


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

FERC clears Macquarie Infrastructure's sale of minority stake in Ohio gas plant

The Federal Energy Regulatory Commission on Dec. 12 authorized a Macquarie Infrastructure Partners Inc.-managed fund to sell indirect minority equity ownership in the Lordstown Generating Station in Trumbull County, Ohio, to Perennial Lordstown LLC or its affiliates.

Perennial, a subsidiary of Sumitomo Corp. of Americas, is also searching for additional investors to participate in the transaction. The additional investor can participate by acquiring a minority interest in Perennial, which will then purchase additional equity interests in the power plant.

Lordstown Energy Center is a combined-cycle, natural gas-fired power plant that recently started operating with a nameplate capacity of 940 MW. According to the companies' application to FERC, the project's summer rating was 856 MW.

Macquarie Infrastructure Partners currently owns 73% of the plant, while Siemens AG subsidiary Siemens Financial Services Inc. holds the remaining 27%, according to S&P Global Market Intelligence.

Macquarie Infrastructure Partners is a subsidiary of Macquarie Group Ltd., and Sumitomo Corp. of Americas is a subsidiary of Sumitomo Corp. (FERC docket EC19-10)