LOS ANGELES, CA – November 4, 2011 – A fund managed by Energy Power Partners (“EPP”) has announced the closing of its acquisition of Otay Landfill Gas, LLC, an operating landfill gas-to-energy (LFG) project located near San Diego, CA that will form part of a broader U.S.-based renewables platform.
The project, which currently sells renewable power under long term contracts with an investment grade utility, is strategically located at one of the largest open landfills in California and includes exclusive expansion rights. This is the first investment for the fund and is made in partnership with a major institutional co-investor (AAA/Aaa).
Terms of the deal were not disclosed.
“We are excited to complete the acquisition of Otay Landfill Gas and look forward to implementing our long-term value-add strategy,” EPP Managing Partner Jerry Peters said in a statement.
Added Managing Partner Henry Park, “Otay is a very attractive project that will provide cost-competitive renewable power to the San Diego area, and is an excellent example of the base load renewable investments our team is targeting.”