Ironclad Energy Partners acquired a 121-MW cogenerationportfolio from Recycled EnergyDevelopment for an undisclosed amount.
The largest asset is RED Rochester, which is powered by threecoal-fired boilers to serve the 1,200-acre Eastman Business Park in Rochester,N.Y. Other assets include integrated cogeneration plants RED-Burlington in NewJersey, RED-COI in California and RED-Franklin in Massachusetts.
Ironclad Energy Partners is committing additional capital toconvert the RED Rochester facility from coal to gas. "Work has alreadybegun on the conversion and should be complete with four new natural gasboilers coming on-line by Q1, 2018," said CEO John Prunkl in a newsrelease.
Prunkl, along with CFO Christopher Fanella, will leadIronclad Energy Partners to acquire and operate other middle-market powergeneration and utilities across North America. Prunkl was formerly CEO andFanella was formerly chief commercial officer of