Malaga Power LLC on Jan. 21 sought Federal Energy Regulatory Commission authorization for the consolidation of jurisdictional facilities and the acquisition of an existing generation facility that will result from its purchase of the Malaga Peaking Plant from the Kings River Conservation District (KRCD).
The parties intend to close the transaction as soon as possible after Malaga Power obtains market-based rate authorization and this application is acted on. Applicant has filed a petition for market-based rate authorization with FERC with a request for commission action by Feb. 17.
KRCD is a special district organized and existing under the laws of the State of California. KRCD is a leading resource management agency for the Kings River region of the San Joaquin Valley. It currently owns 100% of a 121-MW (nameplate rating) and 96 MW (net rating) natural gas-fired facility located in Fresno County. The Malaga facility is interconnected to the transmission system owned by Pacific Gas and Electric and operated by the California Independent System Operator (CAISO). Malaga Power will sell all of the output from the facility at wholesale pursuant to its planned market-based rate authorization.
Malaga Power is a direct wholly-owned subsidiary of Malaga Power Holdings LLC (MPH), which is a direct wholly-owned subsidiary of Cogentrix Malaga Power Holdings LLC (CMPH). The sole member of CMPH is Carlyle Power Malaga Peaker LLC (CPMP).As of the closing of the transaction: CPMP will be controlled by Carlyle Power Opportunities Capital AIV LP (CPOCP AIV) as its managing member; and Carlyle Power Opportunities Malaga Peaker Coinvest AIV LP (CPOCP Malaga Coinvest) will hold non-managing membership interests in CPMP. CPOCP AIV and CPOCP Malaga Coinvest (collectively called the “CPOCP Fund Vehicles”) are investment fund vehicles sponsored and managed by The Carlyle Group or its affiliates. The Carlyle Group is a global alternative investment management firm that is a publicly traded entity listed on NASDAQ.
A company contact is: Jacob A. Pollack, Senior Vice President, General Counsel, Cogentrix Energy Power Management LLC, 9405 Arrowpoint Boulevard, Charlotte, NC 28273, Tel: (704) 525-3800, email@example.com.