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HMC Affiliate Harbert Power Fund V, LLC Acquires Interest in Astoria Energy Facility in New York City
Birmingham, Alabama, November 11, 2014 – Harbert Management Corporation (ʺHMCʺ) is pleased to announce that an affiliate investment fund, Harbert Power Fund V, LLC, recently acquired an approximate 5% ownership interest in the Astoria Energy I facility in New York City from a subsidiary of SNC ‐Lavalin Group, Inc. Astoria Energy I is a dual-fuel, 550 MW combined cycle power plant located in Queens, New York City which currently supplies its capacity and energy to Consolidated Edison under a ten-year agreement which runs to 2016.
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