The Federal Energy Regulatory Commission on Dec. 24 approved a Nov. 25 application from Marina Energy LLC for deal under which Marina will acquire from its affiliate Energenic-US LLC all of the ownership interests in AC Landfill Energy and BC Landfill Energy.
Marina also will acquire from Energenic the ownership interests in ACB Energy Partners LLC, MCS Energy Partners LLC, NBS Energy Partners LLC, SBS Energy Partners LLC, SC Landfill Energy LLC and SX Landfill Energy LLC.
Additionally, DCO Energy LLC, which also is affiliated with Energenic by its 50% ownership interest in Energenic, will acquire from Energenic the ownership interests in CC Landfill Energy LLC, FC Landfill Energy LLC, HSC Energy Partners LLC, HSC Fuel Cell I LLC, PPB Energy Partners LLC, UMM Energy Partners LLC and WC Landfill Energy LLC.
DCO Energy also will acquire from Marina, Marina’s ownership interest in HHS1 LLC and DCO Operations-Hartford LLC.
Marina is a New Jersey limited liability company and a wholly owned subsidiary of South Jersey Energy Solutions LLC, which is a wholly owned subsidiary of South Jersey Industries Inc., a publicly traded energy company. Marina states that it has a 50% indirect ownership interest in the following entities through Energenic:
- ACB Energy- owns a 7.5 MW expansion of a facility in Atlantic City, New Jersey;
- AC Landfill – owns a 5.4 MW facility in Atlantic County, New Jersey;
- BC Landfill- leases and operates a 7.1 MW facility in Burlington County, New Jersey and owns a 0.1 MW solar facility in Florence, New Jersey;
- MCS Energy- is the project development company that does not currently engage in any sales of electricity;
- NBS Energy – owns 2.0 MW of solar generating facilities located in multiple sites in New Brunswick, New Jersey;
- SBS Energy – owns a 3.2 MW solar project in Upper Deerfield Township, New Jersey;
- SC Landfill – owns a 1.9 MW generating facility in Salem County, New Jersey;
- SX Landfill – owns a 3.2 MW generating facility in Sussex County, New Jersey;
- CC Landfill – owns a 11.0 MW facility in Clark County, Nevada;
- FC Landfill – owns a 2.1 MW facility in Frederick County, Maryland;
- HSC Energy – owns 11.0 MW of cogeneration facilities in Hartford, Connecticut;
- HSC Fuel – owns a 1.4 MW cogeneration facility in Hartford, Connecticut;
- PPB Energy – owns a 5.0 MW generation facility in Bensalem, Pennsylvania;
- UMM Energy – owns a 5.5 MW cogeneration facility in Little Falls, New Jersey; and
- WC Landfill – owns a 1.9 MW facility in Warren County, New Jersey.
Marina states that all of these entities are wholly owned subsidiaries of Energenic and are involved in the transaction.
In addition, Marina states that it owns or controls generating facilities with a total of 131.7 MW of capacity in the PJM Interconnection market and 20 MW of solar generation in the New England Independent System Operator (ISO-NE) market.
Energenic is 50% equally owned by Marina and DCO Energy LLC. Energenic is the immediate upstream parent company of AC Landfill, BC Landfill, and the project companies. DCO Energy is a privately held company, which has three individual managing members. DCO Energy is affiliated with Joseph Jingoli & Son Inc. (Jingoli), which is a privately-owned company that provides general contracting and construction management services. DCO Energy currently owns and operates a 6.0 MW combined heat and power cogenerating facility located in Newark, New Jersey. DCO Energy is also affiliated with Goldstar Energy Group Inc., which is owned by four individuals each with a 25% ownership interest. Goldstar provides consulting services for energy projects but does not own or control any electric generating or transmission facilities.
DCO Energy and Jingoli also are affiliated with JDC Energy Services LLC, which is an engineering, procurement and construction firm. JDC Energy does not own or control any electric generation or transmission facilities.
Marina will acquire Energenic’s 100% ownership interest in AC Landfill, BC Landfill, and the project companies. The transaction involves the disaggregation of affiliated generation-owning companies. Before the transaction, Energenic owns 100% of the project companies, and Marina and DCO Energy are both affiliated with Energenic and the project companies through their 50% ownership shares in Energenic. After the transaction, Marina will own 100% of certain project companies, and DCO Energy will own 100% of the other project companies.