December 18th, 2008
InterGen Completes Acquisition of Libramiento Gas Compression Station and Pipeline
Burlington, MA, December 18, 2008 – InterGen announced today the completion of its purchase of the Libramiento natural gas compression facility and an associated 65-kilometer natural gas pipeline from Conduit Capital Partners, LLC and minority partners including Green Energy and Infraestructura Para Energía.
The Libramiento facility is located adjacent to InterGen’s Compresión Bajio Project in northern Mexico and is fully contracted for 20 years with PEMEX Gas y Petroquimica Basica, the gas and petrochemicals arm of Mexico’s state-owned petroleum company, PEMEX. The total value of the transaction was $89.2 million, and was funded by a combination of InterGen equity and limited-recourse debt.
“We are very pleased to add the Libramiento natural gas compression and pipeline project to our well-established Mexican energy portfolio,” said Neil H. Smith, President and CEO of InterGen. “This is a particularly attractive investment because it offers several synergies with our existing power generation facilities and it is a strong complement to our neighboring Compresión Bajio Project.”
InterGen is a global power generation firm with 12 power plants representing an equity share of 6,231 MW of production capacity. InterGen’s plants are located in the UK, the Netherlands, Mexico, the Philippines and Australia. Additionally, InterGen’s 428 MW MaasStroom Energie project, located in the Netherlands, is currently under construction. InterGen is jointly owned by the Ontario Teachers’ Pension Plan and GMR Infrastructure, Ltd.
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