Oglethorpe Power Acquires Natural Gas Plant in Georgia
(P&GJ) — Oglethorpe Power has acquired Walton County Power, a 465-megawatt natural gas-fired plant in Monroe, Georgia. The facility, which began operations in 2001, was purchased from Mackinaw Power Holdings, affiliated with The Carlyle Group Inc. Financial terms were not disclosed.
Walton County Power will become one of Oglethorpe Power's most efficient plants, used during times of high electricity demand. Its advanced technology allows it to generate electricity with less fuel, promising cost savings for the electric cooperatives served by Oglethorpe Power. Cogentrix will operate the facility until fall 2024, when Oglethorpe Power will take over.
"As electricity demand grows in Georgia, Walton County Power's advanced technology will help us meet the power needs of our members reliably and affordably," said Oglethorpe Power President & CEO Mike Smith.
This acquisition is part of Oglethorpe Power's strategy to enhance its generation portfolio with efficient and lower-carbon emitting natural gas and nuclear energy. Over the past 15 years, the company has acquired eight natural gas-fired generation facilities in Georgia, totaling more than 3,600 megawatts.
Oglethorpe Power also owns and operates the Doyle Energy Facility in Walton County, a 273-megawatt plant. "We are committed to being good neighbors in the communities where we operate," Smith added, highlighting the company's long-standing engagement in Walton County.
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