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Stonepeak Partners to acquire oil, gas-fired plant in Maine

A fund managed by private equity firm Stonepeak Partners LP is seeking approval from the Federal Energy Regulatory Commission to acquire the 161-MW Bucksport Energy Plant from American Iron & Metal Co. Inc.

Under the transaction, Stonepeak Kestrel Holdings III LLC which is owned by Stonepeak Infrastructure Fund II (AIV) LP will acquire the gas-fired facility located in Hancock County, Maine. The plant's secondary fuel is distillate fuel oil.

The facility sells 51.3 MW of its output to Hydro-Québec, while the remaining capacity is interconnected to the New England ISO balancing authority through Avangrid Inc. subsidiary Central Maine Power Co., according to S&P Global Market Intelligence data.

The applicants have requested the commission to approve the transaction by Nov. 18. (FERC docket EC20-2)