Ares Management sells 41.9% stake of Hill Top Energy Center
Ardian announced they have agreed to purchase 41.9% of the Hill Top Energy Center in Green County, Pennsylvania from funds managed by the Infrastructure and Power Strategy of Ares Management. Menora Mivtachim Insurance is the third partner in the deal. When construction is complete in mid-2021, the 620-megawatt natural gas-fired Hill Top Energy Center will sell capacity and energy to the Pennsylvania-Jersey-Maryland, or PJM, regional transmission organization. PJM serves all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. Kiewit Power Constructors will serve as the engineering, construction and procurement contractor on the project. Gas turbines, steam turbines and heat recovery generators will be provided by GE Power. Hill Top Energy Center is expected to come online for electricity production in 2021.