Basalt Infrastructure Partners II and DCO Energy have acquired a joint equity ownership stake in DB Energy Assets, a newly formed entity that owns four well established district energy systems in Hartford, Conn., Wilmington, Del., Montclair State University, N.J., and Atlantic City, N.J., and a portfolio of cogeneration assets in the United States. The transaction represents the fourth investment for Basalt.
Further, Basalt and DCO also completed the acquisition of Detroit Renewable Energy, an integrated renewable energy system comprised of Detroit Thermal, the City of Detroit’s underground district energy steam system, as well as Detroit Renewable Power and Hamtramck Energy Services. Detroit Thermal has reliably heated some of Detroit’s landmark buildings and businesses for more than 100 years.
