Projects

Stonepeak acquired a 100% ownership interest in Canal 1&2 from a subsidiary of GenOn Energy, Inc. in June 2018.  Canal 1 is a residual oil-filed unit that went into service in 1968 and Canal 2 dual-fuel unit that went into service in 1976, and together the units represent a total of 1,124 MW of oil and natural gas fired generating capacity.  The Canal 1, 2 & 3 site is located in Sandwich, Massachusetts on the Cape Cod Canal.

Together with Canal 3, Canal 1 & 2 form the 2^nd largest single-site fossil-fuel generation site in the region, allowing the Canal site to enjoy substantial economies of scale in the premier New England power market where existing resources benefit from higher on-peak and capacity prices relative to other regions and significant barriers to entry by new resources.

Canal 1 & 2 Summary:

 

CANAL 1 Capacity 565 MW Location Sandwich, MA COD 1968 Fuel Type Fuel Oil Heat Rate  9,019 Btu/kWh Technology Siemans Westinghouse Asset Management/O&M Ironclad Energy

CANAL 2 Capacity 559 MW Location Sandwich, MA COD 1976 Fuel Type Dual-Fuel (gas/fuel oil Heat Rate  9,790 Btu/kWh Technology Siemans Westinghouse Asset Management/O&M Ironclad Energy