Voltage Finance buys 25% of new CPV Sentinel plant from GE

Voltage Finance LLC has purchased a 25% equity interest in the CPV Sentinel Energy Center, a state-of-the-art, 800-MW, natural gas-fired generating facility located in Desert Hot Springs, Calif.

Voltage Finance is owned by a group of private investors and is managed by an independent board of directors. One of the directors is a member of the Infrastructure Group of Guggenheim Partners.

Voltage Finance said Oct. 2 that it acquired its ownership stake from an affiliate of General Electric (NYSE: GE) unit GE Energy Financial Services. GE manufactured the eight “quick-start” aeroderivative gas turbine packages at the heart of the power plant.

The plant, developed and 25% owned by privately-held Competitive Power Ventures (CPV), came online in May, three months ahead of schedule. It supplies power under a long-term power purchase agreement to Southern California Edison, a unit of Edison International (NYSE: EIX). The third equity holder in the plant, with a 50% share, is Diamond Generating Corp. and affiliates, which are units of the Japanese multi-national Mitsubishi Corp.

The Guggenheim Infrastructure Group comprises investment and operating professionals with financial and energy asset management expertise. The Group focuses primarily on North American core energy infrastructure assets, with a particular emphasis on thermal and renewable power generation, oil and gas midstream infrastructure, and electricity transmission.

Guggenheim Partners is a privately held global financial services firm with more than $180bn in assets under management. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 26 offices in eight countries.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.