Visions - Winter/Spring 2010 - 7
Subsidiary
New Energy Business Is Just Peachy
Perennial Power Acquires Energy Cogeneration Plant in the Heart of Georgia
A
lthough the state of Georgia may evoke images of peaches, Perennial Power Holdings recently acquired a Georgia-based energy-producing entity that is helping us grow a more fruitful portfolio.
Attractive because of existing contracts and steady long-term revenue, Mid-Georgia Cogen in Kathleen, Georgia, was recently purchased by Perennial Power, a subsidiary of both SCOA and Sumitomo Corporation. Perennial Power purchased 100% ownership interests m Atlantic Power Corporation and Northern Star Generation, LLC in November of 2009. Perennial Power currently owns, operates and manages power plants in North America and provides technical and advisory services to power generation projects in Sumitomo's global portfolio. Perennial Power has 570 megawatt (MW) net equity capacity in the U.S. and operates two of the facilities in its portfolio. “We are pleased to welcome the employees of the Mid-Georgia facility into the Perennial family,” said Ken Kageyama, President of Perennial Power.“Mid-Georgia facility is just the first of several acquisitions we hope to make in North America as we grow our portfolio.”
Mid-Georgia Cogen is a 300 MW dual-fuel, combined-cycle cogeneration project located in Kathleen, Georgia.The operation sells electricity under a long-term contract to Georgia Power Corporation until 2028 and sells steam under another long-term contract to the largest Frito-Lay snack foods plant in the United States. Perennial Power also assumed the operations and maintenance responsibilities of the facility and retained all employees of the facility. “Mid-Georgia is a cogeneration facility, which means it produces two products,” explained Bill Cannon, Senior Vice President of Perennial Power’s Business Development.“Electricity is the primary output, and the other is steam, which is sold to the Frito-Lay plant there that produces about 10% of their domestic chip product, with the steam used as heat for cooking.” “The plant uses natural gas and has a two-on-one setup, which means that there are two turbines that feed into one steam turbine,” Cannon continued.“The turbines generate electricity and excess steam. That excess steam in turn generates even more electricity.The plant is a ‘peaker,’ which means it runs at times of peak energy demand in the region, so on extremely cold days and extremely hot days, depending on the season, it generates
Sumitomo
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Visions - Winter/Spring 2010
Table of Contents for the Digital Edition of Visions - Winter/Spring 2010
Visions - Winter/Spring 2010
Contents
Summit VetPharm Achieves Success Through Commitment
SCOA Subsidiaries Join Forces for Fundraising Program
Perennial Power Acquires Energy Cogeneration Plant in the Heart of Georgia
Mineral Mining Interests Produce Gold, Silver, Copper and Revenue
2010 Mid-Term Election Year Outlook
Visions - Winter/Spring 2010 - Contents
Visions - Winter/Spring 2010 - 2
Visions - Winter/Spring 2010 - Summit VetPharm Achieves Success Through Commitment
Visions - Winter/Spring 2010 - 4
Visions - Winter/Spring 2010 - SCOA Subsidiaries Join Forces for Fundraising Program
Visions - Winter/Spring 2010 - 6
Visions - Winter/Spring 2010 - Perennial Power Acquires Energy Cogeneration Plant in the Heart of Georgia
Visions - Winter/Spring 2010 - 8
Visions - Winter/Spring 2010 - Mineral Mining Interests Produce Gold, Silver, Copper and Revenue
Visions - Winter/Spring 2010 - 10
Visions - Winter/Spring 2010 - 2010 Mid-Term Election Year Outlook
Visions - Winter/Spring 2010 - 12
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