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Generator Owner Launching New Retail Supplier To Serve Industrial Customers; Will Be Involved In Spin-off Transaction
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Long Ridge
Retail Electric Supplier, which is indirectly owned 50.1% by Fortress
Transportation & Infrastructure Investors LLC (FTAI) and 49.9% by Labor Impact Fund, L.P., has been formed to serve industrial
customers that are located on the site of the Long Ridge Energy Generation Project in Ohio
The Long Ridge Energy Generation
Project (formerly known as the Hannibal Port Power Project), an approximately 522 MW
(nameplate capacity) combined-cycle natural gas fired electric generation facility located in
Monroe County, Ohio, within the Long Ridge Energy Terminal (the Facility), an existing
industrial property that was the site of the former Ormet Primary Aluminum Corporation
aluminum reduction facility.
The Long Ridge Energy Generation
Project is owned by Long Ridge Energy Generation, which is indirectly owned 50.1% by FTAI and 49.9% by Labor
Impact Fund
"Long Ridge Retail Electric Supplier is a competitive retail electric supplier that is planning
to register in Ohio as a competitive retail electric service provider that will serve industrial
customers that are located on the site of the Long Ridge Energy Generation Project," Long Ridge Retail Electric
Supplier LLC stated
Both Long Ridge Retail Electric
Supplier and Long Ridge Energy Generation (the "Applicants") will be included in a transaction in which the indirect 50.1% interest in the Applicants that is currently being held by Fortress
Transportation & Infrastructure Investors LLC (FTAI) will be transferred to a subsidiary of
FTAI which will become the holding company ("Infrastructure") for FTAI’s infrastructure
business and whose equity interests that are held by FTAI will be distributed to the public
shareholders of FTAI
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January 24, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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