Castleton Commodities Purchases Stake in New Salem Harbor CCGT Plant
Castleton plans to expand its presence in the North American power market.
Castleton Commodities International (CCI) has announced that one of its subsidiaries has acquired a majority stake in the New Salem Harbor (NSH) combined cycle power plant (CCGT) in Salem, Massachusetts. This acquisition is set to deepen CCI's presence in North American power markets and enhance its portfolio of energy assets.
The NSH facility is a 674 MW CCGT plant operating within ISO New England's Massachusetts Hub. Having commenced commercial operation in May 2018, NSH is a gas-fired power facility in the New England region. The plant plays a role in providing stability and reliability to the local power market.
Arvind Rajpal, a member of CCI's Principal Investments team, commented on the acquisition, stating, "CCI's expertise in natural gas markets and asset optimization will help maximize NSH's contribution to the stability and reliability of New England's power market."
CCI is a global energy commodity company with a focus on marketing, merchandising, and trading commodities. The company is also involved in the ownership, operation, and development of commodities-related infrastructure assets.
