SDCL Energy Efficiency Income Trust (SEEIT) has agreed to purchase a 50 percent interest in Primary Energy, a 298-megawatt portfolio of recycled energy and cogeneration projects in Indiana, in a $110 million all-cash deal.
A consortium led by Fortistar is selling the portfolio, which consists of five operating projects that generate low-cost, efficient energy; three recycled energy projects, one natural gas combined heat and power project, and a 50 percent interest in an industrial process efficiency project.
The portfolio projects are located within the Indiana Harbor Works, which comprises the Indiana Harbor Works East and Indiana Harbor Works West steel mills, owned by ArcelorMittal and Midwest Steel mills (a subsidiary of United States Steel Corporation), respectively. The projects are fully integrated into the steel mill facilities, including fuel handling and emissions control equipment and systems that are critical for the operations of the facilities.
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