Riverstone-Backed Raven Power Acquires Three Power Plants
December 5, 2012
Raven Power, a new portfolio company of Riverstone Holdings, has acquired three coal-fired power plants in Maryland from Exelon (NYSE: EXC) for approximately $400 million. The deal was previously announced in August as part of Exelon's commitment to divest the plants as part of a separate merger agreement. Raven is an independent power company managed by Topaz Power Group. Founded in 2000, Riverstone Holdings makes buyout and growth capital investments in the midstream, exploration & production, oilfield services, power and renewable sectors of the energy industry.