HOUSTON (September 15, 2022) – Arroyo Investors is excited to announce the successful sale of two U.S. electric power generation investments, Brandywine and Broad River.
Brandywine is a 230 MW dual-fuel combined-cycle plant located in Brandywine, Maryland with a long-term Offtake Agreement with a regional electric cooperative. Broad River is an 878 MW dual-fuel peaking facility located in Gaffney, South Carolina with a long-term Offtake Agreement with a large utility company affiliate.
Since acquiring Brandywine and Broad River, Arroyo successfully built upon the assets’ strong elements of downside protection through the execution of a variety of value-add business initiatives, most notably adding about 25 years of contractual offtake life between the two projects on a bilateral basis.
David T. Field, a Founding Partner at Arroyo, states: “Executing Arroyo’s strategy and providing solutions for our customers are hallmarks of our Firm. The sale of Brandywine and Broad River is an important milestone for Arroyo.”
“I am proud of our deal team for achieving this significant milestone.” adds Chuck Jordan, a Founding Partner of Arroyo. “Since inception, the Firm has remained committed to investing in high-quality assets, creating value, and positioning assets for exit within our expected hold period.”