Spanish combined cycle changes hands

A subsidiary of Castleton Commodities International LLC (CCI) has closed on the acquisition of the Amorebieta combined cycle power plant 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 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.

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.