This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Veolia And I Squared Capital Set To Acquire Kendall Cogeneration Station, Expanding “Green Energy” Footprint In Greater Boston Area

Veolia Energy North America, a leading provider of sustainable energy services, and I Squared Capital, a global infrastructure investment firm, entered into an agreement with NRG North America LLC, an affiliate of NRG Energy, Inc. to purchase its 256-megawatt Kendall Station, located in Cambridge, Mass.

The Kendall Cogeneration Station uses natural gas as a primary fuel source to produce electrical and steam energy. A planned reconfiguration of the facility, including completion of Veolia’s additional 7,000-foot steam pipeline extension, will deliver energy to Veolia’s customers in Boston and Cambridge while further reducing greenhouse gas emissions by approximately 475,000 tons per year, or the equivalent of removing 80,000 cars from the roads.

“The Kendall Cogeneration Station is core to our Boston area green energy strategy,” said Bill DiCroce, executive vice president and chief operating officer of Veolia Environnement North America’s Municipal and Commercial Business. “We are excited to work with I Squared Capital, and continue our successful relationship with their investment team and look forward to partnering with them on other investment opportunities. We are beginning operation of our pipeline extension, which when completed will capture energy from the Kendall Station otherwise lost to the environment and use it to bring additional steam supply to Boston.”

Adil Rahmathulla, Partner at I Squared Capital, said, “We are pleased to partner with Veolia, a leading global company with deep knowledge and experience in the combined heat and power sector. The acquisition of Kendall Cogeneration follows our strategy of investing in the U.S. energy infrastructure sector with a focus on growth opportunities. Cogeneration facilities should be encouraged across the U.S. as a means for efficient energy consumption and carbon emissions reduction.”

Terms of the agreement were not disclosed. Veolia will provide operations and management services as part of the acquisition which is expected to close this year pending regulatory approval by the Federal Energy Regulatory Commission.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs