Tyr Venture Eyes Late April Wrap-up For CalPeak

Tyr Energy and Starwood Energy Investors expect to finalize the purchase of Pratt & Whitney’s CalPeak Power by April 28.

Tyr Energy and Starwood Energy Investors expect to finalize the purchase of Pratt & Whitney‘s CalPeak Power by April 28. Overland Park, Kan.-based Tyr and Greenwich, Conn.-based Starwood submitted an application for approval of the sale to Federal Energy Regulatory Commission, which is expected to give a green light around 45 days from the submission, says an official following the acquisition. The CalPeak facilities are El Cajon, Enterprise, Lonestar, Panoche, Vaca and Mission, each about 50 MW. Pratt & Whitney, a United Technologies unit, sold the plants directly to the venture.

The portfolio is on the block because Pratt & Whitney is not a generation player and developed the plants to test new technologies (PFR, 10/31). The terms of the deal could not be determined. Calls to Tyr and Pratt & Whitney in East Hartford, Conn., were not returned. Calls to Steve Zaminski, associate v.p. at Starwood, also were not returned.