La Paloma

In an epochal move, IEP, building upon the foundation laid by its predecessor, Complete Energy, LLC., orchestrated the acquisition of the esteemed La Paloma. Nestled in Kern County, California, a mere 110 miles northwest of Los Angeles, La Paloma stands tall as a 1,022 MW gas-fired four-unit combined-cycle marvel. Propelled by four cutting-edge gas-fired combustion turbines, it boasts a status as one of Southern California's most eco-efficient and pristine fossil-fueled power stations.

La Paloma's strategic location endows it with the rare ability to cater to both Northern and Southern California. Notably, three of its four units were cemented in a tolling agreement with none other than Morgan Stanley ("MS"), reinforcing its market presence. Unveiling a distinct competitive edge, its remarkably low heat rate became the cornerstone of its ascendancy in the dynamic Californian energy market.

With agility ingrained in its DNA, La Paloma's rapid cycling and versatile turn-down capabilities positioned it as a responsive powerhouse, adept at seizing market opportunities and harnessing incremental profit from California's mercurial spot market. This prowess translated to optimized peak-period operations, establishing La Paloma as a formidable industry player.

As a testament to its transformative potential, La Paloma's sprawling 446-acre domain and a substantial 300 MW of available transmission capacity open avenues for progressive expansion. The canvas is broad, accommodating the potential infusion of combined or simple-cycle generation facilities, or even the realization of an expansive solar farm.

In this luminous chapter of our journey, the acquisition of La Paloma reigns as an exemplar of strategic foresight, innovation, and commitment to shaping a dynamic energy landscape.