Granite Shore Power, a newly-formed joint venture between Atlas Holdings and Castleton Commodities International (CCI), has submitted the winning bid of USD175 million to acquire select generating assets of Eversource Energy.
These assets total 1,130MW of capacity and include the Newington, Merrimack, Schiller, Lost Nation and White Lake power generation facilities. PSNH is a public-investor owned utility. Its portfolio of generation assets is being divested pursuant to a process governed by a 2016 Order of the New Hampshire Public Utility Commission.
Atlas owns and operates co-generation units at several of our industrial operations as well as Greenidge Generation, a 106MW power generation facility that we recently converted from coal to natural gas and biomass in 2016. We believe CCI is an ideal partner for this acquisition, given their extensive experience owning and operating power generation assets.
CCI is a global commodity merchant with an integrated set of operations consisting of the marketing and merchandising of commodities and the ownership, operations and development of commodities-related upstream and infrastructure assets. It owns 20 power generation assets comprising approximately 2,000MW across the US and Europe. CCI markets a broad range of physical commodities including electric power, natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, base metals, petrochemicals, coal and financial instruments related to commodities.