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SDCL Energy Efficiency acquires RED-Rochester for $177m
StockMarketWire.com
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SDCL Energy Efficiency Income Trust said it had agreed to acquire commercial district energy system RED-Rochester from a fund managed by an affiliate of Stonepeak Infrastructure Partners for about $177 million.
The asset was one of North America's largest district energy systems with 117 megawatts of steam turbine generators plus boilers, chillers and other equipment.
It provided exclusive utility services to commercial and industrial customers within the 1,200 acre Eastman Business Park, located in Rochester, New York.
SDCL Energy Efficiency said the acquisition would be funded from existing cash reserves and revolving credit facilities.
Story provided by StockMarketWire.com
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