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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
345 MW Project Photograph