Quantum to take control of Moundsville Power and its 549-MW project

Moundsville Power LLC, which is developing a 549-MW, gas-fired power project, on Aug. 12 told the West Virginia Public Service Commission that it is changing owners.

Moundsville Power is the holder of a commission-issued, Feb. 13 Siting Certificate for the construction and operation of a natural gas-fired wholesale generating facility of approximately 549 MW in Marshall County, West Virginia.

“Moundsville Power and the existing owners of Moundsville Power have entered into a Purchase Agreement with Quantum Moundsville, LLC under which Quantum Moundsville, LLC will, upon closing of the transactions contemplated by the Purchase Agreement, own a controlling interest in Moundsville Power,” said the notice. “The effective date (‘Effective Date’) of the change of ownership will be no earlier than 30 days from the date of this letter.

“On and after the Effective Date, Quantum Moundsville, LLC will be the controlling owner of Moundsville Power and Moundsville Power will continue to hold the Siting Certificate. Thus Moundsville Power will not transfer or assign the Siting Certificate. Notwithstanding this, to keep the Commission informed of the change in ownership, Moundsville Power is providing the Commission 30 day advance notice and the affidavit discussed in Siting Rule 7.1. Also, the current owners will continue to own an interest in Moundsville Power and will play an instrumental role in bringing the project to fruition.

Quantum Moundsville’s mailing address is: Quantum Moundsville LLC, c/o Quantum Utility Generation LLC, 1401 McKinney Street, Suite 1800, Houston, Texas 77010.

Members and agents of Moundsville Power – Andrew W. Dorn Jr., Andrew W. Dorn IV and John Black – will continue to assist in the planning, permitting and construction of the facility under a Services Agreement with Moundsville Power, said an affidavit attached to the notice signed by Dirk Straussfed, the Chief Technical Officer for Quantum Moundsville.

Said the website of Quantum Utility Generation (QUG): “QUG acquires, develops, operates and optimizes power generation assets in North America with a sharp focus on working with utilities as both customers and partners. Our investment strategy differs from entities that predominantly focus on real-time price maximization in wholesale markets. QUG’s objectives differ in that we primarily seek to own generation assets with locational, fuel and dispatch advantages that are desired by utilities. We then seek to enter into long-dated contractual relationships with utilities in order to provide them with secure, cost-effective, predictably priced energy, capacity and ancillary services for the benefit of their customers.”

Said the website about Straussfeld: “Prior to joining QUG, Dirk was Executive Vice President and the Head of Sithe Global’s Houston office since 2004. Prior to Sithe, Dirk served as President of Steag Power, LLC and was responsible for the executive management of North and Central American IPP operations for STEAG AG, Essen, Germany. Prior to 1999 he was a Member of the team that started the Steag AG’s IPP activities.”

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.