Kelson Energy has completed two sales of fractional interests in the gas-fired Dogwood Energy Facility in Missouri to the Kansas Municipal Energy Agency (KMEA) and the Missouri Joint Municipal Electric Utility Commission (MJMEUC).
KMEA purchased a 10.1 percent ownership interest and MJMEUC doubled an existing 8.2 percent interest and now owns 16.4 percent of the facility. The gross proceeds of the two transactions were approximately $59 million.
The Dogwood Energy Facility is a jointly owned, 650-megawatt natural gas fired combined cycle plant located in Pleasant Hill, Missouri, within the Southwest Power Pool.
Other owners of the Dogwood Energy Facility include The City of Independence Missouri, the Kansas Power Pool and the Unified Government of Wyandotte County/Kansas City, Kansas. Kelson Energy affiliates retain a 33 percent ownership interest and manage the facility on behalf of the entire ownership group.
Kelson Energy president Neal Cody said: “Kelson Energy is pleased to welcome KMEA to the Dogwood Energy Facility ownership group and gratified that MJMEUC chose to increase its ownership share.
“These fractional sales validate our long-term approach of transferring ownership of this asset into the portfolios of the public power sector in SPP.”
Source: Company Press Release