Voltage Finance LLC Acquires 25% Equity Interest in California's CPV Sentinel
DESERT HOT SPRINGS, Calif., Oct. 2, 2013
DESERT HOT SPRINGS, Calif., Oct. 2, 2013 /PRNewswire/ -- Voltage Finance LLC
today announced that it has purchased a 25-percent equity interest in the CPV
Sentinel Energy Center, a state-of-the-art, 800-megawatt, natural gas-fired
electric generating facility located in Desert Hot Springs, CA.
Voltage Finance is owned by a group of private investors and is managed by an
independent board of directors. One of the directors is a member of the
Infrastructure Group of Guggenheim Partners.
Guggenheim Investments will serve as an advisor to Voltage Finance and will
provide administrative and operational services in connection with the
financing of the transaction.
Voltage Finance acquired its ownership stake from an affiliate of GE (NYSE:
GE) unit GE Energy Financial Services. GEmanufactured the eight "quick-start"
aeroderivative gas turbine packagesat the heart of the power plant, which
provides enough peak-time electricity to serve the equivalent of 640,000
The plant, developed and 25-percent owned by privately-held Competitive Power
Ventures (CPV), came online in May 2013, three months ahead of schedule. It
supplies power under a long-term power purchase agreement to Southern
California Edison, a unit of Edison International. The third equity holder,
with a 50-percent share, is Diamond Generating Corp. and affiliates, which are
units of the Japanese multinational Mitsubishi Corp.
About the Guggenheim Infrastructure Group
The Guggenheim Infrastructure Group comprises investment and operating
professionals with financial and energy asset management expertise. The Group
focuses primarily on North American core energy infrastructure assets, with a
particular emphasis on thermal and renewable power generation, oil and gas
midstream infrastructure, and electricity transmission.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with
more than $180 billion in assets under management. The firm provides asset
management, investment banking and capital markets services, insurance
services, institutional finance and investment advisory solutions to
institutions, governments and agencies, corporations, investment advisors,
family offices and individuals. Guggenheim Partners is headquartered in New
York and Chicago and serves clients around the world from more than 26 offices
in eight countries. For more information about Guggenheim Partners, visit
SOURCE Voltage Finance LLC
Contact: Thomas S. Mulligan, Sitrick And Company, 310.367.6567,
firstname.lastname@example.org; Terry Fahn, Sitrick And Company, 310.788.2850,
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