Harbert Power's GPP sells 45% stake in Astoria Energy II to EGCO New York
Type: Sale · Technology: Gas · Country: United States · Capacity: 615 MW · Announced: 2026-09-16
Gulf Pacific Power (GPP), a fund managed by Harbert Management Corp.'s power strategy, agreed to sell a 45 percent indirect equity interest in Astoria Energy II (AE II) to EGCO New York, a wholly owned subsidiary of EGCO Group. AE II is a 615-megawatt combined-cycle natural gas–fired power plant located in the Queens borough of New York City. The transaction was executed on September 16, 2026, through a purchase and sale agreement, with financial terms remaining undisclosed. Harbert Power's Claude Estes stated the deal reflects their approach to investing in high-quality power assets and working alongside partners to support performance over time.
Counterparties
- EGCO New York (Buyer)
- Gulf Pacific Power (Seller)
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