Connect with us

Hi, what are you looking for?

Rincon-based Effingham County Power is set to be acquired by an affiliate of a global investment firm and an electric membership corporation.


Global investment firm, The Carlyle Group Inc. (NASDAQ: CG) affiliate Southeast PowerGen, LLC (“Southeast PowerGen”), and electric membership corporation, Oglethorpe Power Corporation, today announced that Oglethorpe, on behalf of a select group of members, has entered into a purchase and sale agreement to acquire Effingham County Power, a 511 megawatt operating combined-cycle generating and transmission facility located in Rincon, GA, from Southeast PowerGen.


This facility represents a critical baseload asset and is one of the most efficient natural gas-fired generating facilities in Georgia. The facility entered commercial operation in August 2003 and consists of two GE combustion turbines and one steam turbine. Financial terms of the transaction were not disclosed.


The acquisition is subject to Oglethorpe Board and Member approvals as well as other customary conditions, including regulatory approvals, and is expected to close in the second quarter of 2021.

“This acquisition of an existing, low-cost and proven facility in Georgia is a good strategic fit for our power supply portfolio. This facility will help meet a group of our Members’ power supply needs as the industry continues to transition and rely more heavily on natural gas and renewables,” said Elizabeth B. Higgins, executive vice president and chief financial officer for Oglethorpe Power.

Upon closing, this will be Oglethorpe’s fifth acquisition of gas-fired generation in Georgia in the last 12 years, totaling almost 3,000 megawatts.

The Georgia Virtue
Written By

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

South Georgia Crime & Safety

A three-time convicted felon who held himself out as a pastor, mortician, restaurateur, and tax preparer has admitted lying to receive COVID-19 small business...

Bulloch Local News

A jury returned a verdict this week for two of four individuals charged in the 2020 murder of Morice Shiggs. This week’s trial was...

Bulloch Local News

Jaycee Sanchez is the most recent recipient of the $2,500 Marion C. Hulsey and Terri Bell Hulsey Scholarship. Sanchez is a 2022 honor graduate...

National Politics

Ahead of Constitution Day, Georgia Congresswoman Nikema Williams used Constitution Day this year to call for the immediate passage of the Abolition Amendment. The amendment...

Copyright © 2022 ... JustSun LLC.

Sign Up For Our  Newsletter
Get the latest headlines and stories - and even exclusive content!- sent right to your inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.