HOUSTON, TX, APRIL 20, 2016 – EIV Capital is pleased to announce the sale of four landfill gasto-energy facilities located near Atlanta, Georgia to Cube District Energy, a portfolio company of I Squared Capital. EIV Capital and MAS Energy formed a partnership to develop the facilities.
One of the facilities supplies electricity, steam and chilled water to Coca-Cola, Inc. under a 20-year power purchase agreement. In 2012, this facility was awarded a Renewable Top Plant Award by POWER Magazine for being the first trigeneration plant fueled by landfill gas and for the long-term energy cost reduction it provided to Coca-Cola’s plant. In addition, this facility was one of seven projects recognized in 2012 by the U.S. Environmental Protection Agency’s Landfill Methane Outreach Program for excellence in innovation, creativity, success in promoting landfill gas energy and achieving both environmental and economic benefits.
The other three facilities are in the late-stages of construction, and will supply electricity under 20-year power purchase agreements with Georgia Power Company, the premier electric utility in the region serving more than 2.25 million customers. All of the facilities are expected to be fully operational by mid2016.
“We were excited to partner with the MAS Energy team in developing these renewable energy projects.” said Patti Melcher, Managing Partner at EIV Capital. “By securing long-term, power purchase contracts with investment grade counterparties and coinciding long-term landfill gas supply agreements, MAS Energy has been able to provide environmentally sustainable baseload power, lower the carbon footprint and support clean energy initiatives in the greater metropolitan Atlanta area.”
About EIV Capital, LLC
Founded in 2009, EIV Capital is a Houston, TX-based private equity firm specializing in providing growth equity to the energy industry. The fund’s management has extensive experience leading and investing in successful companies across the energy value chain with a focus on midstream infrastructure and related services. For more information, visit www.eivcapital.com.
