Quantum Utility Generation Announces Acquisition of Development Portfolio from Navasota Energy Services, LLC
Houston, TX – May 2015
May 27, 2015 — Quantum Utility Generation, LLC (“QUG”) today announced that one of its affiliates has acquired a development portfolio of natural gas-fired peaker projects from Navasota Energy Services, LLC (“Navasota”). The 1,764 megawatt portfolio currently consists of three advanced-stage development projects located in Texas.
“Quantum is excited about the opportunity to partner with Navasota, a long-time leader in power plant development and asset management in Texas. We see a specific need in ERCOT for the addition of highly-efficient natural gas-fired peaking capacity to support the integration of large-scale renewable resources as well as to offer customers cost-effective protection from the price volatility that has dramatically impacted this market in the past and is expected to increase in the future.” said Sean O’Donnell, QUG’s President.
“Our partnership with Quantum gives Navasota access to significant capital and commercial expertise to complete the construction and financing of our fully-permitted sites in ERCOT.” said Frank Giacalone, Navasota’s Chief Executive Officer. “This transaction significantly expands our platform and supports our growth plan in ERCOT where we have been active over two decades.”
The portfolio currently consists of three advanced-stage projects: the Van Alstyne Energy Center located in Grayson County, TX, the Union Valley Energy Center located in Wilson County, TX, and the Clear Springs Energy Center located in Guadalupe County, TX. The projects are expected to be available for commercial operations beginning in mid-2017.
For additional information, please contact:
Jason Pillai, QUG Chief Commercial Officer, at 713-485-8630
Dan Hudson, Navasota President, at 713-213-0667.