Energy Investors Funds has acquired a power plant in Texas for an undisclosed amount.
The plant, called the Channelview cogeneration facility, is a gas-fired power plant near Houston, Texas. The plant sells steam and electricity under long-term contracts with industrial customers. Global Infrastructure Partners, an infrastructure fund, and Fortistar, a power sector investor, are the sellers.
Energy Investors made the acquisition through its fund, EIF United States Power Fund IV LP. The private equity firm focuses on independent power and electric utilities. The firm has raised more than $5 billion in equity capital.
Several power plants have changed hands in the past few months. In December. Calpine Corp. (NYSE: CPN) bought a Texas power plant for $625 million from MinnTex Power Holdings LLC. In September, Carlyle Group LP (Nasdaq: CG) bought six power plants in New Jersey and Washington, D.C.