WHITEHALL NEWS

Northwestern Mutual acquires stake in Neptune Regional Transmission System from Starwood Energy

June 16, 2014

Source: Northwestern Mutual

MILWAUKEE, June 16, 2014 /PRNewswire/ -- NM Neptune, LLC, an indirect wholly owned subsidiary of Northwestern Mutual, has acquired Starwood Energy's 25 percent Class C stake in the Neptune Regional Transmission System.

The 65-mile high-voltage, direct-current underwater transmission cable connects Sayreville, New Jersey to Long Island, New York. The Neptune system has been operational since 2007 and its 660 Megawatts of capacity are fully contracted to the Long Island Power Authority (LIPA) under a 20-year agreement.

"Neptune represents a significant addition to our infrastructure equity platform that we formally launched in 2013 within Northwestern Mutual Capital. The combination of current yield from an asset with strategic importance to the power markets of the Northeastern United States is very attractive," said Ron Joelson, Executive Vice President and Chief Investment Officer for Northwestern Mutual. "Our investment objective is to generate superior returns while maintaining a well-balanced and diversified investment portfolio to preserve the company's exceptional financial strength."

An essential ingredient in maintaining Northwestern Mutual's financial strength and ability to deliver value to policyowners is the performance of the company's $186 billion general account investment portfolio, whose assets back the company's insurance and annuity products.

The investment earnings generated by this portfolio produce capital that builds the company's strong financial base. They are also the primary determinant of the interest component of the dividend scale for traditional permanent life insurance policies.

Northwestern Mutual Capital is a wholly-owned subsidiary of The Northwestern Mutual Life Insurance Company, which is also its largest client. Northwestern Mutual Capital manages over $33 billion of private assets for its clients across a portfolio of investment grade private placements, mezzanine and equity co-investments in private equity transactions and private equity funds.    

About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With more than $217 billion in assets, $26 billion in revenues and more than$1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.2 million people who rely on us for insurance and investment solutions, including life, disability and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.

News by date

Jul 18, 2022

FGE Power Announces Sale of FGE Goodnight Wind Farm Project to Omega Energia

Jul 13, 2022

All fired up. New energy plant in Niles operating at 100% capacity

Jul 11, 2022

New 1.1-GW GE-Powered Gas-Fired Plant Enters Service in Michigan

May 31, 2022

APP Jet Center acquires FBO operations at Witham Field Airport in Stuart, Florida

 

Jan 11, 2022

Ridgewood Infrastructure Announces Acquisition of APP Jet Center

 

Jan 07, 2022

Tenaska seeks full control of Texas gas-fired plant

Jan 05, 2022

Tenaska to buy out gas plant stakes

August 24, 2021

Texas wind project raising cash equity


August 24, 2020

Competitive Power Ventures, GE Energy Financial Services, Osaka Gas USA, Axium Infrastructure and Harrison Street Close Financing on CPV Three Rivers Energy Center

August 24, 2020

Three Rivers Consortium Reaches Financial Close

May 19, 2020

Hickory Run Energy Commences Commercial Operations May 18, 2020

April 20, 2020

1,100-MW Cricket Valley CCGT plant starts operations in NY

October 22, 2018

Starwood Energy agrees to sell a 51% interest in Horse Creek and Electra Wind Farm to Skyline Renewables

October 9, 2018

Lordstown Energy Center Begins Commercial Operation, Names Drew Schneider Plant Manager

August 28, 2018

Kings Mountain Energy Center Begins Operations

January 10, 2018

Carroll County Energy Begins Commercial Operations 

 

September 27, 2016

Ohio Approves 1,105 MW NatGas-Fired Plant

September 14, 2016

Marubeni-led group closes N.J. power plant deal

April 26, 2016

Starwood Energy to Acquire Greenleaf 1 & 2 Facilities from MUFG

April 06, 2016

Macquarie-Led Consortium Enters Agreement to Construct Lordstown Energy Center

March 11, 2016

NTE Energy Closes Financing for its Second 475 MW Project

August 05, 2015

ReneSola and Pristine Sun to Form Joint Venture to Accelerate U.S. Project Development

April 07, 2015

Advanced Power Closes Financing of $899 Million Carroll County Energy Project in Ohio

July 22, 2014

NTE Energy Secures Investment for Three Natural Gas-Fired Generation Projects Totaling Up to 1,470 MW

June 16, 2014

Northwestern Mutual acquires stake in Neptune Regional Transmission System from Starwood Energy

WHITEHALL NEWS | EVENTS | MONITORING THE MARKETS