Orrick represented GE Energy Financial Services (GE EFS) in a sale of its 24.95% share in Southeast PowerGen Holdings (Southeast) to co-investor The Carlyle Group (Carlyle). Southeast owns a 3.2 GW portfolio of six generation assets in Georgia. Once the transaction closes, Carlyle will become the sole owner of the portfolio through an entity called CPP SEPG Holdings.
The portfolio includes four simple-cycle, natural gas-fired generation facilities in Georgia: AL Sandersville (677.4 MW) in Washington county; MPC Generating (351 MW) in Monroe; Walton (525 MW) in Monroe; and Washington (745.2 MW) in Linton. Effingham, a 527 MW combined-cycle, natural gas-fired facility in Rincon, and Mid-Georgia, a 330 MW topping-cycle cogeneration plant in Kathleen make up the rest of the portfolio.