FGE Power and Fortistar Announce Strategic Energy Investment Partnership

Fortistar Investment Provides Capital for Late-Stage Renewable and Clean Generation Development Projects

HOUSTON--()--FGE Power, innovative developers of large-scale renewable and clean energy projects, and Fortistar, LLC, an investor in sustainability-focused and innovative energy sources helping facilitate the transition to a low-carbon economy, today announced a strategic partnership in which Fortistar will invest in FGE Power late-stage projects and future development efforts. FGE Power and Fortistar are currently in active discussions with tax-equity investors for their 500MW FGE Goodnight wind project.

“Working with the strong management team at FGE Power, we will help bring online a string of profitable renewable energy projects.”

FGE Power was founded with a principal focus on developing large-scale wind, solar, natural gas and battery storage projects with a focus on economic, social and environmental returns. A pioneer in the evolving industries of clean, renewable energy and sustainable infrastructure, FGE Power has a portfolio of fully permitted, late-stage power generation projects in the United States, with a combined generation capacity of over 5,000MW.

“We are excited and honored to announce our strategic partnership with Fortistar, a globally-recognized and market-leading energy infrastructure investor who shares our goal of creating renewable and clean power generation resources,” said Emerson G. Farrell, CEO and President, FGE Power.

Fortistar has built, invested in and managed a portfolio of successful sustainable and clean energy generation projects in the U.S. and Canada for more than 40 years. The company’s demonstrated ability to forge strong relationships with investors, customers and local communities has been a hallmark of Fortistar’s success.

“FGE Power is developing several advantageously located projects in the rapidly tightening Texas market. Our strategic investments in FGE Power’s projects expands Fortistar’s investment portfolio to include development stage assets and allows us to bring our market expertise to bear on their behalf,” said Mark Comora, President, Fortistar. “Working with the strong management team at FGE Power, we will help bring online a string of profitable renewable energy projects.”

ABOUT FGE POWER

Headquartered in Houston, Texas, FGE Power is an energy and infrastructure company focused on developing clean, innovative, and sustainable utility-scale power generation solutions, including wind, solar, natural gas and battery storage assets. FGE’s Triple Bottom Line approach seeks to maximize economic, social, and environmental returns while meeting the demand for reliable energy today and in the future.

For more information, www.fgepower.com.

ABOUT FORTISTAR

Headquartered in White Plains, New York, Fortistar is an opportunity-oriented, private investment and energy asset management firm focused on lower carbon energy generation and is distinguished by its experienced team with a deep understanding of energy operations, financing and development. Fortistar owns and operates lower carbon energy generating companies in the United States and Canada that support the transition to a low carbon economy. These companies include cogeneration facilities; waste-heat recovery power plants; compressed natural gas fueling stations; landfill power plants; projects that reduce carbon in industrial facilities, and biomass facilities. Our portfolio of companies include NY Cogeneration, TruStar, Primary Energy, Fortistar Methane Group, Fortistar Biomass Group, Carbonfree Chemicals, and ClockIN.

For more information, visit: www.fortistar.com.

Contacts

Makovsky
Andy Beck, 202-587-5634
abeck@makovsky.com

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