Kestrel Acquisition LLC owns Hunterstown Generating Station power plant, an 810-megawatt (MW) combined cycle gas-fired power plant located in the MetEd region of the Western Mid-Atlantic Area Council (MAAC) zone of the Pennsylvania-New Jersey-Maryland (PJM) Interconnection. Kestrel is primarily owned by Platinum Equity Capital Partners IV L.P. The project is owned by a private equity sponsor with a more aggressive financial policy than most strategic owners. The project's low heat rate of about 7,100 British thermal units (Btus) per kilowatt-hour (kWh) allows the plant to dispatch at a baseload level. We expect a capacity factor in the 75%-80% range going forward. Hunterstown has exhibited the ability to generate at high capacity factors with minimal unplanned outages. The project has a
