July 12, 2022 – Rockland Capital, LP (“Rockland”) announced today that Rockland Power Partners IV, LP and several co-investors have acquired 100% of the Ector County power project through a section 363 bankruptcy asset sale. The facility is a 330 MW natural gas-fired simple cycle power plant, located in Ector County, Texas. The facility sells energy and ancillary services into the ERCOT West Zone.
A Rockland affiliate was approved as the stalking horse bidder in the Chapter 11 bankruptcy process earlier this year. Rockland prevailed in the final auction administered by the bankruptcy court on June 22nd and closed the purchase on July 12th.
“The Ector project is well suited, as a quick start peaking power plant, to provide reliable, dispatchable generation into the ERCOT power market” said Scott Harlan, Co-Managing Partner of Rockland Capital. “The Ector project and others like it are critical to enabling the transition to a low-carbon grid by providing the grid operator with dispatchable resources that are essential to balancing a grid increasingly dependent upon intermittent renewable power. Ector presents an excellent opportunity to leverage Rockland’s active asset management capabilities and experience operating successfully through challenging conditions in the Texas power market.”
About Rockland Capital
Rockland Capital, LP (www.rocklandcapital.com) is a private equity company that was formed in 2003 to acquire, develop, build and manage selected electric power generation investments. Rockland manages five funds, which have invested greater than $1.3 billion of equity in the United States and United Kingdom power markets. Investments span the power generation landscape, including conventional (natural gas), cogeneration, renewable and energy storage projects with a focus on investments that enable a sustainable transition to a reliable, low-carbon power system.