Selected representative activities of Arctas
- Acquired development rights to 600MW wind project in Panhandle of Texas (Mariah Power) and assumed responsibility for a number of commercial facets of the project. In February 2016, the first phase (230MW) out of 3-phase project was sold to First Reserve [large energy private equity firm]. Subsequent phases under current active development.
- Led the development of 4 wind plants in Central America (3 in Nicaragua and 1 in Guatemala) representing over 150MW of new generation displacing expensive oil-based power generation in a region marked by high-priced power. By developing the 1st, 2nd and 4th wind plants in Nicaragua, Arctas has helped transform the country into the top market outside of Europe getting the highest percent of actual power generation from wind energy. Pursuing wind developments in two other regional markets. Won small solar public tender in El Salvador in 2015; sold interest to partners.
- Acquired controlling stake and GP interest in Centragas natural gas pipeline in 3-round competitive bid process pursuant to Enron bankruptcy; managed asset for last 7 years of BOT up to contractual handover; minority partners were Promigas (25%) and Toyota Tomen (25%). Subsequently, Arctas has been developing an LNG export project at existing gas facilities located on Colombian Atlantic coast at north end of Centragas pipeline [currently owned by Bogota utility EEB].
- Acquired one of largest non-institutional positions in Mirant equity following their bankruptcy filing and helped establish and advise the Mirant Equity Committee in the US bankruptcy court Northern District of Texas (thereby protecting the equity from wipeout and significantly adding value to the equity holders). Subsequently, teamed with Chanin Capital to advise $1.2B bondholders on US portfolio of Mirant power assets in bankruptcy.
- Co-advisor with DRKW [Dresdner’s investment bank] to PSEG [New Jersey public utility] in their sale of 50% stake of Meiya Power Company [one of the largest IPPs in North Asia with over 10,000MW gross capacity]. Thereafter, represented MPC in bids for Asian portfolios representing thousands of MW of capacity, including El Paso, Covanta, Peak Pacific and Meizhouwan.
- Teamed with large private equity firm to bid on certain distressed US power projects out of bankruptcy processes; participated as joint “stalking horse” bidder in two auctions for assets in New York.
- Advised Novera, a UK listed renewables company, on its possible entree into the US market, including the pursuit of a development portfolio of 3000MW of wind power and a portfolio of landfill gas power generation assets.
- Teamed with local developers and ANZ-IS with respect to opportunity to acquire $300 million stake in Yallourn [major Australian integrated coal mining, power station and retail marketing arm] from CLP of Hong Kong; Arctas arranged GE-EFS as bid partners. CLP subsequently pulled process.
- Represented ANZ-IS in its bid attempt to acquire Cross Sound Cable [a privately-owned 25-mile high-voltage direct current (HVDC) submarine electric power cable between New Haven, Connecticut and Long Island, NY with 330MW capacity] from Hydro Québec [large Canadian public utility]. Sold to Babcock for $213 million.
- Retained by Xstrada [one of largest global mining companies] to lead develop 300MW power plant in Philippines to support their copper mining project under development; Xstrada expanded role to include assistance with securing permits and land rights for slurry pipelines for the mining operations.
Professionals have led or been associated with major important energy development projects
Teesside Power (UK)
First IPP developed upon privatization of the UK system; 1,875MW gas-fired cogeneration power plant; provided 6 million tonnes of steam per year to ICI Chemicals; provided the first anchor gas purchaser to support North Sea natural gas being landed in England via a new 36-inch subsea gas pipeline (CATS).
EcoEléctrica Power and LNG (Puerto Rico)
World’s first integrated and co-located LNG terminal and power plant (540MW); one of the world’s largest LNG storage tanks; provides power and gas to Puerto Rico (13 percent of countries’ energy needs); the most efficient power plant in the country because it uses natural gas as fuel and its plant design.
Trakya Power Plant (Turkey)
478MW natural gas combined-cycle power plant located on the Sea of Marmara approximately 60 miles to the west of Istanbul; consists of two Siemens V 94.2 combustion turbine generators; one of the first BOT projects built in Turkey; provides a third of the electricity needs in the Turkish Thrace.
Puerto Quetzal Power (Guatemala)
Three barge-mounted, diesel-fired generation facilities (234MW) located on the Pacific coast at Puerto Quetzal, Guatemala. PQP is the first project-financed independent power plant in Central America and first to be barge-mounted.
Empresa Energetica de Corinto (Nicaragua)
70.5 MW Capacity
Barge mounted diesel engine generating plants.
Iliian Power (Philippines)
Led the development team to negotiate Mirant’s equity stake with KEPCO, developed, and secured debt financing for the 1,200MW Ilijan Project, a $710 million gas-fired power plant and anchor consumer for the Philippines’ first indigenous gas find.
Gaza Power Plant (Palestine)
136MW diesel/gas-fired power plant located in the Gaza; first and only power plant in Palestine; first energy infrastructure investment and largest foreign investment; provides 1/3rd of Gaza’s power.
Power Pacific Portfolio (China)
Developed six Sino-foreign power projects in China in the 90s; most were cogen plants produced both electricity and industrial steam using domestically produced CFB boilers.