A subsidiary of Castleton Commodities International (CCI), a global energy commodity merchant, has acquired a majority stake in the New Salem Harbor (NSH) combined-cycle power plant (CCGT) in Salem, Mass. Financial terms were not disclosed.
NSH is a 674-megawatt CCGT in ISO New England’s Massachusetts Hub. The plant, which went into commercial operation in 2018, is one of the newest, largest and most efficient gas-fired power facilities in New England.
“CCI’s acquisition of NSH provides us the opportunity to deepen our presence in North American power markets,” said Arvind Rajpal, a member of CCI’s principal investments team. “CCI's expertise in natural gas markets and asset optimization will help maximize NSH’s contribution to the stability and reliability of New England’s power market.”