TUCKER,
Ga., July 1, 2024 /PRNewswire/ -- Today,
Oglethorpe Power announced the acquisition of Walton County Power,
a 465-megawatt, three-unit combustion turbine generation facility
in Monroe, Georgia. The facility
was purchased from Mackinaw Power Holdings, an affiliate of the
global investment firm, The Carlyle Group Inc.
Walton County Power, which began commercial operation in 2001,
will become one of Oglethorpe Power's most efficient peaking
plants, specifically utilized in times of high electricity demand.
The plant's advanced technology features a low heat rate, enabling
the plant to generate electricity using less fuel compared to other
technologies, which is anticipated to result in cost savings for
the electric cooperatives served by Oglethorpe Power. Cogentrix
will operate the facility until fall 2024, when Oglethorpe Power
will assume operations responsibilities. Financial terms of the
transaction were not disclosed.
"As electricity demand continues to grow in Georgia, the advanced technology at Walton
County Power will help ensure that we can reliably and affordably
meet the increasing power supply needs of our members," said
Oglethorpe Power President & CEO Mike
Smith.
Over the years, Oglethorpe Power has made strategic shifts in
its generation portfolio, including the increase of highly
efficient and lower-carbon emitting natural gas, as well as its
investment in emission-free nuclear energy with the recent
completion of the Vogtle expansion project. The acquisition of
Walton County Power marks Oglethorpe Power's eighth acquisition of
natural gas-fired generation in Georgia over the last 15 years, totaling more
than 3,600 megawatts.
In addition to acquiring Walton County Power, Oglethorpe Power
also owns and operates the Doyle Energy Facility in Walton County, a 273-megawatt five-unit
combustion turbine plant. "At Oglethorpe Power, we are committed to
being a good neighbor in the communities where we own and operate
assets. We are proud to have been an engaged corporate citizen in
Walton County for many years, and
we look forward to building upon our community partnership with the
addition of Walton County Power," added Smith.
About Oglethorpe Power
Oglethorpe Power is among the nation's largest power supply
cooperatives and is one of the largest energy producers in
Georgia. With more than
$16 billion in assets, Oglethorpe
Power owns and operates a diverse portfolio of resources to provide
reliable, affordable, safe and environmentally responsible energy
to 38 consumer-owned, not-for-profit Electric Membership
Cooperatives (EMCs) that provide retail electricity to
approximately 4.5 million Georgians. Through its investment in
nuclear, natural gas, hydro and coal resources, Oglethorpe Power's
generation fleet has a combined capacity of more than 9,300
megawatts. For more information, visit www.opc.com.
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SOURCE Oglethorpe Power Corporation