Silverfern Group buys 878-MW gas-fired plant in partnership with Arroyo Energy Investment Partners

Written By: Stratton Report
December 20, 2016


On December 20, the Silverfern Group, announced that it had acquired Broad River Power Holdings, an 878-MW dual-fuel, simple-cycle gas turbine electric power plant in Gaffney SC, in partnership with Arroyo Energy Investment Partners. Broad River Energy Center produces electricity under a long-term tolling agreement.

Silverfern Managing Director Brooks Klimley remarked:

We are excited to partner with Arroyo in the acquisition of an important gas-fired peaking plant in the SERC-East electricity market, at a time when coal-fired generation is being retired and the lower environmental impact of gas-fired electricity generation is being increasingly valued by utilities and customers alike. Broad River is a modern, efficient facility, and we expect it to play an increasingly central role in the provision of clean, reliable electricity to consumers in North and South Carolina.”

Silverfern Co-Managing Partner Clive Holmes observed:

“Our investment in partnership with Arroyo further demonstrates that by partnering with lead investors with deep industry and local knowledge, we can understand and uncover value where other investors may not be able to. Arroyo’s experience, strong local industry relationships and solid commercial strategy for the operation of Broad River were key factors in our decision to invest. We look forward to a fruitful partnership, not only with Arroyo, but with Broad River’s management and customers as well.”

According to the firm, the acquisition of Broad River represents Silverfern’s fourth platform investment and seventh investment so far in 2016.