Castleton Commodities International LLC Announces Acquisition of a 786MW Natural Gas-fired Combined Cycle Plant Located in Amorebieta, the Basque Country, Spain

Source Press Release
Company Castleton Commodities International LLC 
Tags Asset Deals, Deals, Renewable Energy, Power
Date February 18, 2020

Castleton Commodities International LLC ("CCI") announced that its subsidiary has closed on the acquisition of the Amorebieta combined cycle power plant ("CCGT") located in the industrial hub of Bilbao, in the Basque Country, Spain. As a result of this acquisition, CCI now owns and/or provides management services to 14 power generation assets totaling approximately 4,700 megawatts of power generation capacity across the U.S. and Europe.  CCI is in advanced discussions with White Summit Capital AG ("WSC") to form a partnership that will hold the investment in the Amorebieta plant.

The Amorebieta plant is a 786 megawatt natural gas-fired CCGT that uses two General Electric 9FA gas turbines and one Alstom steam turbine, making it one of the most efficient gas-fired power plants in the Iberian Peninsula."

The Amorebieta acquisition builds on our strategy to increase exposure to the European energy markets and marks our entry into the rapidly changing Iberian hub where we see enormous potential," said Arie Pilo, Head of CCI's European Power Investments business. 

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