Tiger Infrastructure Partners has purchased its first natural gas-fired generation plant in New York with the acquisition of the Danskammer Station from Mercuria Energy Group.
The New York-based firm agreed to buy the 500MW power facility for an undisclosed amount, but Mercuria will provide a six-year term loan of up to $66 million to fund a portion of the deal. Tiger Infrastructure purchased Danskammer through its sophomore investment fund.
Tiger Infrastructure did not reply to a request for comment.
In 2013, Mercuria, along with Helios Capital Power, purchased the Danskammer Station for $3.5 million after its original owner, Dynegy, filed for bankruptcy. The power station sells power into the Lower Hudson Valley Capacity Region administered by the New York Independent System Operator.
The deal is subject to regulatory approval from the State of New York Public Service Commission.
Independent power company Agate Power will manage the plant after the deal closes.
Tiger Infrastructure is a mid-market investor focused on growing infrastructure platforms. The firm has invested over $4 billion of equity in communications, energy, transportation, and related sectors, primarily located in North America and Europe.