Richland-Stryker Investment (RSI) has sold its wholly-owned subsidiary Richland-Stryker Generation (RSG) to a subsidiary of private equity firm Energy Capital Partners (ECP), the Houston firm said in a statement.
The sale included two gas/oil fired peaking power generation facilities: the 444-megawatt (MW) Richland Generation Station in Defiance, Ohio; and the 20MW Stryker Generation Station located in Stryker, Ohio.
The firm did not disclose the financial terms of the transaction nor whether other assets were included in the sale.
“The Richland and Stryker generating stations are highly reliable resources located in a congested electric transmission corridor of northwest Ohio,” RSI said in a statement.
The Houston firm acquired RSG in 2011 from FirstEnergy. Quintana Infrastructure & Development (QID), which led RSI’s acquisition at the time, maintained principal responsibility for the ongoing management of RSG and daily operations of its facilities.
RSI is owned by affiliates of QID, Starwood Energy Group, BlackRock, Frist Capital, Gordy Gas, and Post Oak Energy Capital.
Founded in 2005 and with over $11 billion in commitments, Energy Capital Partners focuses on investing in the power generation, midstream gas, electric transmission, environmental infrastructure and energy services sectors of North America’s energy infrastructure. The firm is based in Short Hills, New Jersey and has a second office in San Diego.