Energy Investors Funds acquires stake in Calif. cogeneration project

11 July 2006 -- Energy Investors Funds (EIF), a private equity fund manager that invests in the energy and electric power sector, announced that its United States Power Fund II, L.P. acquired an additional 28 percent partnership interest in Crockett Cogeneration from an affiliate of GE.

Funds managed by EIF previously owned approximately 39 percent of Crockett. GE Energy Financial Services continues to own approximately 25 percent of the limited partnership interests in Crockett. Financial terms of the transaction were not disclosed.

Crockett is a 240-MW natural gas fired cogeneration plant located in Crockett, California, outside San Francisco and has been in operation since 1996. The project has a long-term power purchase agreement with Pacific Gas and Electric Company and a thermal sales agreement with C&H Sugar Company, both of which expire in 2026, according to EIF.

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