Arroyo Investors, an independent private equity fund manager with an investment focus in infrastructure projects throughout the Americas, has sold two U.S. electric power generation investments, Brandywine and Broad River.
The sale includes more than 1.1 gigawatts of power production in the eastern United States.
Brandywine is a 230-megawatt dual-fuel combined-cycle plant located in Brandywine, Md., with a long-term offtake agreement with a regional electric cooperative. Broad River is an 878-megawatt dual-fuel peaking facility located in Gaffney, S.C., with a long-term offtake agreement with a large utility company affiliate.
Since acquiring Brandywine and Broad River, Arroyo successfully built upon the assets’ strong elements of downside protection through the execution of a variety of value-add business initiatives, most notably adding about 25 years of contractual offtake life between the two projects on a bilateral basis.