Voltage Finance buys 25% of California power plant

The private entity acquired the stake in CPV Sentinel Energy Centre from GE Energy Financial Services for an undisclosed amount.

Voltage Finance, which is owned by a group of private investors, has acquired a 25 percent equity stake in CPV Sentinel Energy Centre, an 800-megawatt (MW), natural gas-fired electric generating facility in California, the company said in a statement.

The company acquired the equity interest from GE Energy Financial Services for an undisclosed amount.

The plant, which came online in May 2013, supplies power under a long-term power purchase agreement to Southern California Edison and has the capacity to power 640,000 homes. It was developed by renewable energy developer Competitive Power Ventures (CPV), which also owns 25 percent of the facility.

The third equity holder, which owns the remaining 50 percent, is Diamond Generating Corporation and affiliates, which are units of Mitsubishi, according to the statement.

Voltage Finance is managed by an independent board of directors, one of whom is a member of Guggenheim Partners’ Infrastructure Group. The group focuses primarily on North American core energy infrastructure assets, with a particular emphasis on thermal and renewable power generation, oil and gas midstream infrastructure, and electricity transmission.

Guggenheim Investments will serve as an advisor to Voltage Finance and will provide administrative and operational services related to the financing of the transaction.

Guggenheim Partners is a privately-held global financial services firm with more than $180 billion in assets under management. It is headquartered in New York and Chicago with offices in eight countries worldwide.