345 MW natural gas-fueled cogeneration project in NYISO
APV was retained by a limited partnership consisting of three major investment firms and a utility subsidiary to assist it with the redevelopment of a 345 MW natural gas-fired combined cycle cogeneration facility. The project commenced operation approximately 20 years ago and sold power into the NYISO and to a major utility under a power purchase agreement. The project also sold steam to an adjacent manufacturing facility. The project’s key agreements were expiring, and the owners retained APV as a strategic advisor and re-developer to assist in evaluating its options, in renegotiating the project’s agreements and in maximizing the commercial value of the project.
- Reported to the owner’s Board consisting of four major investment firms
- Negotiated expiring steam sales and land lease contracts
- Modeled project economics and valuation of owner’s equity
- Ran RFP process for energy hedge, energy management and fuel management
- Advised on technical improvements resulting in improved profitability