| NEW YORK--(BUSINESS
WIRE)--Arroyo Energy Investors LP, a unit of The
Bear Stearns Companies Inc. (NYSE:BSC) announced
today that it has completed its previously
announced acquisition of Delta Power Company,
LLC, a privately-held owner and manager of power
generation projects. Included in the sale were
interests in 17 power projects, with a total of
1,217 gross MW. Further terms of the transaction
were not disclosed.
The remaining assets of Delta Power Company,
LLC not purchased by Arroyo Energy, including
six operating power plants and the operations
service business, were transferred to a newly
formed entity Olympus Power, LLC based in
Morristown, New Jersey.
About Arroyo Energy Investors:
Arroyo Energy Investors LP, a wholly-owned
subsidiary of The Bear Stearns Companies Inc.,
makes principal investments in energy-related
assets. Located in Houston, Texas, Arroyo’s
specialized expertise in energy M&A—combined
with Bear Stearns’ world-class investment
platform—offers distinct advantages to companies
seeking successful transactions. More
information about Arroyo Energy is available at
www.arroyoenergy.com
Contacts
Arroyo Energy
Russell Sherman, 212-272-5219
RussellSherman@bear.com
or
Olympus Power, LLC
Dean Vanech, 973-889-9100
dvanech@olympuspower.com
|
