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Generator Owner Launching New Retail Supplier To Serve Industrial Customers; Will Be Involved In Spin-off Transaction

January 24, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Long Ridge Retail Electric Supplier, which is indirectly owned 50.1% by Fortress Transportation & Infrastructure Investors LLC (FTAI) and 49.9% by Labor Impact Fund, L.P., has been formed to serve industrial customers that are located on the site of the Long Ridge Energy Generation Project in Ohio

The Long Ridge Energy Generation Project (formerly known as the Hannibal Port Power Project), an approximately 522 MW (nameplate capacity) combined-cycle natural gas fired electric generation facility located in Monroe County, Ohio, within the Long Ridge Energy Terminal (the Facility), an existing industrial property that was the site of the former Ormet Primary Aluminum Corporation aluminum reduction facility.

The Long Ridge Energy Generation Project is owned by Long Ridge Energy Generation, which is indirectly owned 50.1% by FTAI and 49.9% by Labor Impact Fund

"Long Ridge Retail Electric Supplier is a competitive retail electric supplier that is planning to register in Ohio as a competitive retail electric service provider that will serve industrial customers that are located on the site of the Long Ridge Energy Generation Project," Long Ridge Retail Electric Supplier LLC stated

Both Long Ridge Retail Electric Supplier and Long Ridge Energy Generation (the "Applicants") will be included in a transaction in which the indirect 50.1% interest in the Applicants that is currently being held by Fortress Transportation & Infrastructure Investors LLC (FTAI) will be transferred to a subsidiary of FTAI which will become the holding company ("Infrastructure") for FTAI’s infrastructure business and whose equity interests that are held by FTAI will be distributed to the public shareholders of FTAI

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