Fortress divests 49.9% share in 485 MW Long Ridge Energy Terminal power plant in Hannibal
Fortress Transportation and Infrastructure Investors LLC (FTAI) has sold a 49.9% interest in Long Ridge Terminal LLC to the Labor Impact Fund, L.P., a fund managed by GCM Grosvenor (GCM) for US$150 million in cash, plus an earn-out.
Long Ridge, an industrial port and rail terminal located in Hannibal, Ohio, is the site of a new 485 MW combined cycle gas-fired power plant currently under construction and scheduled to be completed and operational by November 2021.
Citi served as sole financial advisor to FTAI on the transaction.
Country updates
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January 16, 2020
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