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

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Castleton Commodities International LLC

Feb 18, 2020, 07:00 ET

LONDON, Feb. 18, 2020 /PRNewswire/ -- 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.

About Castleton Commodities International LLC

CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related upstream and infrastructure assets. Please visit our website for more information. http://www.cci.com.

Media Contact:
Hill+Knowlton Strategies
Brian R. Brooks
+1 (713) 752-1901
[email protected]

About White Summit Capital

WSC is an investor and asset manager specialized in the infrastructure and energy sectors and focused on originating, executing and investing in off-market transactions with superior risk/return profiles. WSC co-invests with its partners, having deployed over EUR 1.3 billion of equity in 5 different assets, and WSC manages the investments for the long term. WSC is headquartered in Zug, Switzerland with offices in Madrid, London and Mexico City and a total of 10 investment professionals.

SOURCE Castleton Commodities International LLC