Fengate Asset Management has achieved financial close on Freeport Energy Center, a 26-megawatt natural gas-fired, combined-cycle cogeneration power plant located in Freeport, Texas. The seller was Calpine Corporation.
Operational since 2007, the Freeport Energy Center is located inside Dow Inc.’s Texas Operations industrial park, the largest integrated chemical manufacturing complex in the western hemisphere.
“The Freeport Energy Center plays an important role in supporting a significant manufacturing facility, and this acquisition is an excellent fit with our power and energy infrastructure investment strategy,” said Greg Calhoun, managing director of infrastructure investments at Fengate.
The acquisition of Freeport Energy Center expands Fengate’s recent activity in the power and energy sector, including the acquisition of Heartland Petrochemical Complex’s Central Utility Block in Alberta, Canada. Fengate is managing this investment on behalf of the
