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CHICAGO, Oct. 3, 2003 -- Invenergy LLC and GTCR Golder Rauner announced the completion by their affiliates, effective September 30, of the acquisition of the Hardee Power Station from TECO Energy, Inc. The Hardee station, which is located in Hardee and Polk Counties, Florida, is a 370- megawatt natural gas-fired electric generating plant.
Invenergy and GTCR signed a purchase agreement with TECO in late August. The closing follows receipt of all regulatory and third party consents. The Hardee Power Station will continue to serve both Seminole Electric Cooperative and Tampa Electric under existing long-term power purchase contracts.
About Invenergy LLC
Chicago-based Invenergy is a developer, owner and operator of power generation and energy delivery assets. Invenergy is owned by Polsky Energy Investments LLC (an investment company controlled by Michael Polsky, Invenergy's President) and GTCR Golder Rauner, LLC, a leading private equity firm. Invenergy is leading a program to acquire, together with GTCR and other investors, large-scale power plants currently being divested by utilities, IPPs and financial institutions. For more information, visit www.invenergyllc.com .
About GTCR Golder Rauner LLC
Founded in 1980, GTCR Golder Rauner is a private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to build leading companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. For more information, visit www.gtcr.com .
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