Operating since 1986 and located on the Black River near Watertown, New York, Glen Park is run-of-river hydroelectric generation facility that was aquired by EIF in 2005. A subsidiary of Northbrook Energy will continue to operate the facility.
“From the date of initial investment through disposition, the Glen Park project was a solid performer for EIF and its investors,” said Mark Segel, Partner at EIF who led the transaction along with Mark Voccola, Senior Vice President. “The Glen Park facility was a key investment in our USPF and USPF II funds and, as a renewable energy project, offered the portfolios diversity in terms of fuel source and carbon risk profile. The sale of Glen Park represents a significant step in the planned liquidation of USPF and a significant liquidity event for our USPF II investors.”
Barclays Capital served as EIF's exclusive financial advisor in connection with the transaction.
