Axium Infrastructure, an independent North American infrastructure portfolio management firm, has entered into a definitive agreement for the acquisition of 100 percent of the ownership interest in Brooklyn Navy Yard Cogeneration Partners (BNYCP). A sales price was not disclosed.
The seller was a fund managed by Ares EIF, the power and energy infrastructure strategy within the private equity group at Ares Management.
BNYCP owns the Brooklyn Navy Yard cogeneration facility, a 286-megawatt operating project located in Brooklyn, N.Y., that provides steam and electricity in the New York Independent System Operator Zone-J power market under long-term offtake agreements with the Consolidated Edison Company of New York and the Brooklyn Navy Yard Development Corporation.
