NEW YORK, Aug. 24, 2020 /PRNewswire/ -- Captona, a North America-focused investment company specializing in power generation and energy infrastructure assets, today announced the formation of Catamaran Renewables (Catamaran), a 50/50 joint venture between Captona and SJI (NYSE: SJI) subsidiary Marina Energy, to develop, own and operate renewable energy projects.

The new Catamaran joint venture brings over 1.3 GW of combined operational experience across all types of renewable energy and transactional experience above $1 billion in the renewable energy industry.

The joint venture also announces its first acquisition in the vehicle, a 7.5 MW fuel cell portfolio in Staten Island, New York from NineDot Energy, a renewable energy developer based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY.

The projects are currently under construction and scheduled to be placed into service this year. All project revenue qualifies under New York's VDER program.

"Captona is thrilled to partner with SJI and leverage our strengths to continue investing in renewables in North America," said Izzet Bensusan, Managing Partner and Founder of Captona. "We are excited about our added competitive edge, now offering a full capital stack and technical know-how in house."

Catamaran Renewables will be an active owner in solar, wind, fuel cell and other clean energy projects. 

Please visit catamaranrenewables.com for more information

About Captona

Captona is a North America-focused investment company specializing in power generation and energy infrastructure assets. The Firm actively pursues risk-adjusted returns from acquisitions of operating and development assets within the North American power sector and aims to create value through technical and financial restructuring.

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SOURCE Captona

DOVER, Del., Dec. 9, 2019 /PRNewswire/ -- Chesapeake Utilities Corporation (Chesapeake Utilities) (NYSE: CPK) and South Jersey Industries (SJI) (NYSE: SJI) today announced they have entered into an agreement, dated Dec. 5, 2019, under which Chesapeake Utilities will acquire SJI subsidiary Elkton Gas, which operates in Cecil County, Maryland. Upon completion of the transaction, Elkton Gas will become a wholly-owned subsidiary of Chesapeake Utilities. The transaction was approved by the SJI Board of Directors and by Chesapeake Utilities' Investment Committee, which is comprised of five of the Company's Board members. The acquisition, which is expected to close in the first half of 2020, is subject to approval by the Maryland Public Service Commission.

Incorporated in 1863, Elkton Gas delivers safe, reliable and affordable natural gas to approximately 7,000 residential and commercial customers within a franchised area of Cecil County, Maryland. Elkton Gas will continue to operate out of its existing office with the same local personnel. Customers can expect to continue to receive the same high quality service that they have experienced with the local office and its team members. Elkton Gas has also been a long-term customer of Eastern Shore Natural Gas Company, an interstate transmission pipeline company that is a wholly-owned subsidiary of Chesapeake Utilities Corporation.

Chesapeake Utilities currently serves another franchised area of Cecil County, Maryland with natural gas service and has been managing its expansion into this area largely from its Delaware operations. 

"This is an exciting fit and aligns with our Company's growth strategy to identify new investment opportunities to further our future earnings growth.  The acquisition of Elkton Gas is significant in that it jumpstarts our current operation, enabling us to more quickly expand our footprint in Cecil County," said Jeff Householder, President and CEO of Chesapeake Utilities Corporation. "We are excited about our prospects for natural gas distribution growth in this growing area and are committed to delivering superior service to the customers and communities we serve by: increasing their energy options; growing our systems and infrastructure in order to provide safe and reliable delivery of energy to customers; and providing exceptional customer service."

"Acquiring these operational resources in Cecil County offers close proximity to the I-95 interstate corridor and to our existing Cecil County service territory which will better position us for the commercial, industrial and residential growth opportunities projected for the area," said Shane Breakie, Vice President of Chesapeake Utilities Corporation, who oversees the Company's Delmarva natural gas operations including Cecil County. "Adding the Elkton Gas platform including their talented team of employees to our existing presence creates a stronger consolidated operation to better support customers and the natural gas infrastructure in the area."   

The specific terms of the transaction were not publicly disclosed. The transaction is expected to close in the first half of 2020.    

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution and transmission; electricity generation and distribution; propane gas distribution; and other businesses. Information about Chesapeake Utilities Corporation's businesses is available at www.chpk.com, through the Company's Investor Relations App and on the Annual Report Microsite at cpkannualreport.com.

About SJI
SJI, an energy services holding company based in Folsom, NJ, delivers safe, reliable, affordable natural gas service to approximately 681,000 customers in New Jersey and Maryland through its three regulated natural gas utilities - South Jersey Gas, Elizabethtown Gas and Elkton Gas. SJI's non-utility businesses within South Jersey Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services; and developing, owning and operating on-site energy production facilities. SJI Midstream houses the company's interest in the PennEast Pipeline Project. Visit sjindustries.com for more information about SJI and its subsidiaries.

Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.

Cautionary Note Regarding Forward-Looking Statements: Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "likely," "outlook," "forecast," "would," "could," "should," "can," "will," "project," "intend," "plan," "goal," "target," "continue," "sustain," "believe," "seek," "estimate," "anticipate," "may," "possible," "assume," variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual results to vary materially from those indicated, including the factors described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each of which is incorporated herein by reference, and in other documents that we file or furnish with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by law, the Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

For more information, contact:       

Justin Mulcahy
Public Relations Manager
302.217.7050
jmulcahy@chpk.com

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SOURCE Chesapeake Utilities Corporation

FOLSOM, N.J., Aug. 24, 2017 /PRNewswire/ -- South Jersey Resources Group, LLC (SJRG), a wholly owned non-utility subsidiary of South Jersey Industries, Inc. (NYSE: SJI), today announced it has executed a joint five-year agreement for fuel supply management services to Tyr Energy's Hickory Run Energy Station in Lawrence County, Pennsylvania. Under the terms of the contract, SJRG will be the exclusive provider of natural gas supplies and the services associated with managing those supplies for the generating station.

"Our wholesale commodity business has benefited significantly from the abundant and affordable natural gas supplies located in the nearby Marcellus and Utica shale gas basins," said SJRG President Gregory M. Nuzzo. "Fuel supply management represents one of the fastest growing areas of our business and the Hickory Run Energy Station contract expands our highly successful fuel supply management portfolio, as we have now executed 11 contracts to provide this niche service for the growing gas-fired merchant electricity generation industry."

The proposed facility is a natural-gas fueled, approximately 1,000 megawatt combined-cycle gas turbine electric power generating station located near the Pennsylvania/Ohio border. Commercial operations for the facility are expected to begin in Q2 2020. Once built, the plant will deliver power to the PJM energy market, which serves more than 65 million customers located in 13 states and the District of Columbia.

The facility will burn up to 162,000 dekatherms of natural gas per day at maximum capacity. As part of managing the fuel supply for the Hickory Run facility, SJRG will also manage 90,000 dekatherms per day of pipeline capacity for Tyr on an existing Tennessee Gas Pipeline from the Marcellus Shale. 

ABOUT SOUTH JERSEY INDUSTRIES
South Jersey Industries (NYSE: SJI), an energy services holding company based in Folsom, NJ, delivers energy solutions to its customers through three primary subsidiaries. South Jersey Gas delivers safe, reliable, affordable natural gas and promotes energy efficiency to approximately 381,000 customers in southern New Jersey. SJI's non-utility businesses within South Jersey Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services; acquiring and marketing natural gas and electricity for retail customers; developing, owning and operating on-site energy production facilities; and offering HVAC and other energy-efficiency related services. SJI Midstream is also an SJI subsidiary and houses the company's interest in the PennEast Pipeline Project. Visit http://www.sjindustries.com for more information about SJI and its subsidiaries.

ABOUT TYR 
Tyr represents the North American cornerstone of the ITOCHU Corporation global IPP strategy. Over the years, Tyr has invested in well over 20 IPP projects and currently holds interests in 15 operating projects plus others in development. Tyr is actively seeking new investment opportunities. Tyr has continued to provide asset management services to many of the projects in which it holds an investment interest, often in tandem with its affiliate NAES that provides operations and maintenance (O&M) services throughout the industry. More information about Tyr is available at http://www.tyrenergy.com/.

View original content:http://www.prnewswire.com/news-releases/south-jersey-resources-group-to-supply-fuel-management-services-to-tyrs-hickory-run-energy-station-300509144.html

SOURCE South Jersey Industries, Inc.