Hartford-based Eversource Energy is selling five of its power generating assets in New Hampshire to a joint venture made up of a pair of Fairfield County companies.
The joint venture, Granite Shore Power LLC, is a newly formed partnership between Atlas Holdings of Greenwich and Castleton Commodities International of Stamford. Granite Shore Power paid $175 million for three fossil fuel power plants and two turbines that generate electricity.
Artlas Holdings owns 17 companies in the manufacturing, distribution, service and trading fields. Castleton Commodities International owns a variety of power plants and other energy producing assests.
The deal, which is expected to close in December or early next year, must still be approved by New Hampshire utility regulators. The sell-off of power plants was part of a 2015 agreement Eversource reached with state officials to restructure and stabilize rates in the Granite State.
The joint venture, Granite Shore Power LLC, is a newly formed partnership between Atlas Holdings of Greenwich and Castleton Commodities International of Stamford. Granite Shore Power paid $175 million for three fossil fuel power plants and two turbines that generate electricity.
Artlas Holdings owns 17 companies in the manufacturing, distribution, service and trading fields. Castleton Commodities International owns a variety of power plants and other energy producing assests.
The deal, which is expected to close in December or early next year, must still be approved by New Hampshire utility regulators. The sell-off of power plants was part of a 2015 agreement Eversource reached with state officials to restructure and stabilize rates in the Granite State.
