Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners and Ironclad Energy Partners Announce Sale of Rochester District Energy Assets to SDCL Energy Efficiency Income Trust for $260mm Enterprise Value
Tuesday, April 6, 2021 12:53PM IST (7:23AM GMT)
New York, United States:
Ironclad Energy Partners LLC (“Ironclad”), an affiliate of Stonepeak Infrastructure Partners (“Stonepeak”), has agreed to sell 100% of its indirect equity interests in RED-Rochester, LLC (“RED”) and associated affiliates to SDCL Energy Efficiency Income Trust plc (“SEEIT”) for $260 million enterprise value, subject to customary closing adjustments.
As one of the United States’ largest district energy systems, RED exclusively serves 100+ commercial and industrial customers within the Eastman Business Park (“EBP” or the “Park”) in Rochester, New York. RED’s asset base has continuously served the 1,