Dairyland Power Cooperative announced that it intends to acquire the RockGen Energy Center, a 503 megawatt (MW) natural gas power plant located in Cambridge, Wis., from Starwood Energy.
"RockGen will help meet our members' power supply needs as we transition to more renewable resources," said Brent Ridge, president and CEO.
"Safely delivering reliable and sustainable electricity to our members is critical as we continue to diversify Dairyland's energy portfolio and lower carbon intensity. With the closing of our coal-fired Genoa Station #3 this year, the availability of this existing, low-cost and reliable facility in Wisconsin is both timely and a good strategic fit for our power supply portfolio," Ridge added.
"RockGen is a world-class facility and under our ownership, we have been able to add tremendous commercial and operational value to this asset," said Himanshu Saxena, CEO of Starwood Energy. "We are confident that this asset will serve Dairyland and its members for many years to come."
Operational since 2001, the RockGen Energy Center is a simple-cycle, dual fuel power generating facility that operates mainly on natural gas. The three 168 MW low-NOx combustion turbines can ramp up and down quickly to support intermittent solar and wind resources. In 2020, re-commissioning was completed to allow operation on fuel oil as a backup fuel source. This fuel flexibility enhances reliability in the region when or if the natural gas supply is limited.
The acquisition is subject to customary conditions, including regulatory approvals, and is expected to close by the end of 2021.
