Site will generate approximately 25 MW of solar energy by 2027
Project will use existing Oswego Harbor Power land, remove inactive oil tanks
OSWEGO, N.Y., March 6, 2023 /PRNewswire/ — Generation Bridge, LLC (the “Company”) today announced plans to remove an inactive oil tank farm in Oswego, New York to make way for close to 25 megawatts (“MW”) of solar energy by the year 2027. Generation Bridge, together with its affiliate, Generation Bridge II, LLC, is the owner of electric power generation facilities totaling more than 5,900 MW of installed capacity across New York and Connecticut.
The multi-year Oswego solar project will utilize land owned by and located roughly threeand-a-half miles south of the Oswego Harbor Power plant, which is the Company’s latest commitment to hasten the transition from fossil fuel generation to clean, renewable energy.
The project is being developed by asset manager Eastern Generation, LLC. Generation Bridge and Eastern Generation are affiliates of ArcLight Capital Partners, a leading power infrastructure investor with an existing portfolio containing over 25 gigawatts of installed generating capacity.
“ArcLight is proud to support Generation Bridge’s investment in Oswego, and help New York meet its renewable energy goals by replacing fossil fuel infrastructure with clean energy generation,” said Dan Revers, Managing Partner at ArcLight. “We look forward to working with the State of New York, the Department of Environmental Conservation, and the local Oswego community to begin to transition the Oswego Harbor Power station away from fossil fuel by replacing inactive fuel oil storage tanks with clean, renewable solar power.”
The Oswego solar project will be built at the South Oswego Terminal, which contains several fuel oil storage tanks with a total capacity of approximately 129 million gallons. The investments in solar at the Terminal will create hundreds of jobs during construction. This is the first of several planned projects, which may ultimately include additional investments in solar, energy storage, and other clean energy technologies both at the Terminal and the main Oswego Harbor Power plant.
“As the long-time operator of several power generation facilities in New York State as well as manager of thousands of megawatts of power generation across the Northeast, we are bringing considerable engineering and project management experience to these development projects,” said Mark Sudbey, CEO of Eastern Generation. “These investments in a brownfield site are made possible thanks to the passage of the Inflation Reduction Act and New York’s leadership in clean energy.”
Generation Bridge, LLC is the owner of several electric power generation facilities totaling roughly 5,000 MW of installed capacity located in California, Connecticut, and New York. Operation and asset management services are provided by Eastern Generation and Consolidated Asset Management Services. Generation Bridge is a wholly owned affiliate of ArcLight Energy Partners Fund VII, L.P., a private equity fund managed by ArcLight Capital Partners, LLC. More information about Generation Bridge can be found at www.generationbridge.com.
Eastern Generation, LLC owns, operates, and manages electric generating facilities totaling approximately 3,000 megawatts through its Astoria Generating Company and other subsidiaries. Eastern Generation manages an additional 6,000 MW portfolio of generation assets owned by Generation Bridge, LLC and Generation Bridge II, LLC, and their affiliates. Eastern Generation sells capacity, energy, and ancillary services into the merchant markets administered by the New York and New England independent system operators. Eastern Generation is an affiliate of ArcLight Capital Partners, LLC. More information about Eastern Generation can be found at www.easterngeneration.com.
ArcLight Capital Partners, LLC was founded in 2001 and is a leading middle-market sustainable infrastructure investor with a long-term, successful track record across 7 investment funds. Since inception, ArcLight has invested approximately $27 billion in 123 transactions, including over $16 billion of equity into the power, renewables, strategic gas and transformative infrastructure sectors. Based in Boston, the firm’s investment team employs a value-added, operationally intensive investment approach that benefits from its dedicated in-house technical, operational, and commercial specialists and partners, as well as the firm’s approximately 1,800-person asset management operational partner. More information about ArcLight can be found at www.arclight.com.
Contact: Cathy Rought
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SOURCE Eastern Generation; ArcLight; Generation Bridge