Lightstone Group & # x27 ; t have a Lightstone Intranet account,. Power generation. In case of shortage of natural gas the plant can also run on Distillate Fuel Oil. Founded in 2001, we have over two decades of experience owning and operating infrastructure investments across the entire value chain, from the turbine to wall socket. In another profitable investment, private equity firm Riverstone Holdings LLC paid $1.8 billion in late 2016 to buy the remaining stake in electricity producer Talen Energy Corp. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Gavin Power, LLC/Lightstone Gen, LLC. A spokesperson for the plant's owner, Lightstone Generation LLC, could not be reached for comment. Power: Type: Status: Fuel: 268 MW: Burner: Internal Combustion Engine - Combined Cycle: Operating . Todays action reaffirms that surface impoundments or landfills cannot be closed with coal ash in contact with groundwater.''. . Lightstone Generation is a joint venture between private-equity firms Blackstone and ArcLight Capital Partners. EPA said it is working with a regional grid operator to prevent unscheduled outages and protect reliability of the grid. . Darby Generating Station, 507 MW natural gas. The power plant is one of the largest coal-fired plants in the nation with two generating units capable of generating 1,300-MW of electricity each (2,600-MW total). This practice constrained operating cash and required material quantities of plant staff's time and energy. Lightstone Generation LLC is an utilities company based out of 345 PARK AVE, New York, New York, United States. Spurlock plant in Maysville, Kentucky, is required to fix groundwater monitoring as a condition for continued operation of its coal ash pond, the EPA said. It is a Gas Turbine power plant that is used for Peakload. The project is currently active. Capital Power, the company behind the city's existing gas plant, hopes to build two new gas-fired turbines, adding around 100 megawatts of electrical generation. . About a year later, Talen paid its owners, including Riverstone, a special $500 million dividend. Franais. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. Image: AEP headquarters in Columbus, Ohio, US. The Mission of the Gallia County Economic Development office is to promote economic growth in Gallia County through the attraction of new business and industry and the retention of existing businesses by providing resources that encourage investment and development resulting in economic vitality, diversification of Gallia Countys tax base, and improved quality of life for Gallia County residents. CAMS currently manages over 30 power plant facilities . Full-Time. You can help Wikipedia by expanding it. It has been developed in multiple phases. Over 30 years of experience. The project is currently owned by Lightstone Generation with a stake of 100%. Its everyone else who doesnt., Reporting by Tim McLaughlin; editing by Richard Valdmanis and Brian Thevenot. FERC did not respond to requests for comment, and the White House declined to comment. The largest of the four plants is Gavin, a 2,721 MW supercritical, pulverized coal-fired generating station located in Ohio. Lightstone's EBITDA for the twelve months ended 9/30/20 measured $234.1 million, which was well below fiscal year 2019 results of $361.9 million and below Moody's expectations for full year 2020 of $349.0 million under our original base case forecast. Lenders' appetite to hold on to coal assets has been in question as financial institutions face pressure to reduce investments in enterprises that contribute heavily to greenhouse gas emissions. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 A.J. The primary fuel being used to power the plant is natural gas. From 2018 to 2020, Lightstone's power plant operations produced about $1.1 billion in operating profit, according to estimates from Moody's Investors Service. Starting with an $89,000 investment in a two-family house in 1986, founder David Lichtenstein has grown Lightstone into one of the most innovative and diversified privately held real estate firms in the United States. The sale includes 5,200 megawatts of generation all located in the region served by the PJM Interconnection: AEP will net approximately $1.2 billion in cash after taxes, repayment of debt associated with these assets and transaction fees. In a major action to address toxic wastewater from coal-fired power plants, the Environmental . Such dividends are a way for private equity firms to lock in profits and shift risk to their debt-holders, which are often mutual funds. The company is a joint venture between private-equity firms ArcLight Capital Partners and Blackstone Group. It is located in Ohio, the US. COLUMBUS, Ohio, Jan. 30, 2017 /PRNewswire/ -- American Electric Power (NYSE: AEP) today completed the sale of four competitive power plants to Lightstone Generation LLC, a . The fuel is procured from Columbia Gas Transmission. 4 plants that Lightstone Generation will purchase from AEG and AEG 5 Generating Resources, Inc., including the Facility. While Lightstone's hedging strategies provided some degree of mitigation through the sale of spark swaps (i.e., selling power forward and buying corresponding forward gas), it was not enough to offset the overall energy margin decline.As such, all of Lightstone's key financial metrics, which Moody's calculates after major maintenance and changes in working capital, were understandably lower than originally forecast. If the business does well, the debt gets paid off at a premium. As leader of the . Lightstone Generation LLC, which operates one of the largest coal-fired power plants in the country, closed on a refinancing of its $1.7 billion loan, according to people familiar with the matter. The order to the Gen. James Gavin Power Plant in southern Ohio marks the first time the EPA has formally denied a utilitys request to continue disposing toxic coal ash after a deadline to stop such disposal has passed. [2] The plant was named in honor of James Maurice "Jumpin' Jim" Gavin, the third Commanding General (CG) of the 82nd Airborne Division during World War II. The plant along the Ohio River today is owned by Lightstone Generation, a joint venture of The Blackstone Group hedge fund and private equity firm ArcLight Capital Partners, which bought the plant . Fossil Fuel Electric Power Generation Operator Waterford Power, Llc Operator ID 61136 Operating Capacity (MW) 921.6 Summer Capacity (MW) 866 Winter Capacity (MW) 960 Generating Units 4 . All quotes delayed a minimum of 15 minutes. If you are an individual with a disability or a disabled veteran who has an accommodation request, please: Call us at 1-877-363-5148. Post completion of construction, the project got commissioned in May 2001. A report issued this month by Earthjustice and the Environmental Integrity Project said 91% of U.S. coal-fired plants have ash landfills or waste ponds that are leaking arsenic, lead, mercury and other metals into groundwater at dangerous levels, often threatening streams, rivers and drinking water aquifers. Our Standards: The Thomson Reuters Trust Principles. The sale is part of AEPs efforts to shift its focus from wholesale power markets to regulated utilities, reported Wall Street Journal earlier. The other three plants are natural gas-fired: the 1,211 MW Lawrenceburg combined-cycle facility in Indiana; the 894 MW Waterford combined-cycle facility in Ohio; and the 484 MW Darby peaking plant also in Ohio. Customer Service. Lightstone Generation LLC | 38 followers on LinkedIn. Proceeds from the sale will be used by AEP for its regulated businesses, including transmission and contracted renewable projects. It is owned by Lightstone Generation LLC, a 50-50 joint venture of The Blackstone Group L.P. and Arc Light Capital Partners. Posted 30+ days ago. Power. Lawrenceburg Power is a wholly-owned subsidiary of Lightstone Generation, and Lightstone Generation in turn is a joint venture of the Blackstone Group LP and ArcLight Capital Partners LLC. The action is intended to ensure that local water resources are safe while protecting the public health and ensuring a reliable electricity supply, Regan said. In this case, the violations are very obvious and very severe,'' she said, adding that the plant's previous and current operators have continued their reckless and illegal disposal of toxic coal ash and contaminated groundwater. Lightstone Generation, LLC, Waterford Energy Facility is located in Waterford, OH and is a supplier of Electric Utility Services. Sign In. As an organization, we nurture an entrepreneurial mindset and encourage our employees to do the same; always striving to raise the bar, think outside the box, and be world-class in all we do. AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. Lightstone Generation operates one of the countrys largest coal-fired power generating units in Cheshire, OH. It generates and sells electric power. General Manager - Gavin Power Lightstone Generation Jun 2018 - Aug 2022 . The power plant run on dual-fuel. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids capability to meet present and future requirements. In the Pennsylvania, Jersey, Maryland Power Pool (PJM), which has the largest standby market, capacity revenue payments average more than $100 per megawatt per day - an insurance policy that costs about $9 billion a year and aims to make sure the grids 65 million customers avoid blackouts during heat waves and Arctic blasts. COLUMBUS, Ohio, Jan. 30, 2017 /PRNewswire/ --American Electric Power (NYSE: AEP) today completed the sale of four competitive power plants to Lightstone Generation LLC, a joint venture of Blackstone (NYSE: BX) and an affiliate of ArcLight Capital Partners LLC (ArcLight), for approximately $2.1 billion. General James M. Gavin Power Plant, originally owned by American Electric Power and sold to Lightstone Generation LLC in 2017, is in Cheshire, Ohio along the Ohio River in Galla County. 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