US Power Generating Company (“USPowerGen”) owns and operates fifty-three generating units at three facilities with a total summer capacity of over 2,180 Megawatts (MW). USPowerGen subsidiary sells energy and capacity into the NYISO deregulated market. The company represents generation sufficient to serve approximately 20% of the overall load in New York City.
USPowerGen is led by Mark Sudbey, the CEO, and a management team headquartered in Stamford, CT. Equity investors include affiliates of Madison Dearborn Partners LLC, the family of Ray L. Hunt of Dallas, Texas, which controls Hunt Oil Company, and a significant number of financial institutions, as well as the management team. A predecessor of the Company (“USPLLC”) was started in 2003 to acquire US merchant power projects and other unregulated power assets. It acquired Astoria Generating Holdings LLC (“Astoria Generating”) on February 23, 2006.