Highly Efficient NYISO Zone K Asset is Well Positioned to Continue Supporting Long Island’s Power Demand Needs under Lotus Infrastructure Partners Ownership
GREENWICH, CONN. and RED BANK, NJ., September 9, 2025 /PRNewswire/ — Lotus Infrastructure Partners, LP (together with its affiliates, “Lotus”) and Caithness Energy, L.L.C. (together with its affiliates, “Caithness Energy”) announced today that Lotus has entered into a definitive agreement to acquire 100% of the economic interests in Caithness Long Island Energy Center (“Caithness Long Island” or “CLI”), a highly efficient 365 MW natural gas fired power generation asset located in Suffolk County, New York.
Caithness Long Island, which began commercial operations in 2009, is one of the most efficient natural gas combined cycle power plants in NYISO, which manages New York’s electric power grid. The plant produces ~26% of the net generation on Long Island and is a key provider of low-cost and highly reliable power to customers.
“Caithness Long Island, as an extremely efficient power plant with one of the lowest heat rates in NYISO Zone K, is well suited to provide reliable, dispatchable generation into the New York power market for decades to come,” said Himanshu Saxena, Chairman and CEO of Lotus. “As industrial and data-center related investments continue to advance in the region, we expect CLI to play an increasingly critical role in sustaining these initiatives and providing reliable power for Long Island and New York State.”
“The addition of Caithness Long Island to our portfolio will build on our extensive experience in providing best-in-class power generation capacity and energy to the New York and Long Island energy markets,” said Jeffrey Delgado, a Managing Director of Lotus. “We look forward to working with the project’s stakeholders, including CLI’s operating team and the local community, on the next chapter of operating excellence and expanding on CLI’s impressive track record.”
“The Caithness team is immensely proud of the Caithness Long Island Energy Center and the positive impact the plant has had on Long Island’s power infrastructure and its residents over the past sixteen years,” said Ross D. Ain, President of Caithness Energy. “The Caithness Long Island Energy Center is the most energy efficient and water conserving natural gas fired power plant serving Long Island. It has also helped to dramatically reduce greenhouse gas emissions in New York State by operating in lieu of older less efficient plants. It has been a rewarding journey to develop and operate this asset and to be part of the Town of Brookhaven and greater Long Island community. We are pleased to have reached an agreement to sell this plant to a proven operator such as Lotus, ensuring responsible stewardship and continued commitment to make a positive contribution to Long Island.”
Advisors
King & Spalding LLP is serving as legal advisor to Lotus.
Lazard is serving as exclusive financial advisor, and Paul Hastings LLP is serving as legal advisor to Caithness Energy.
About Lotus
Lotus Infrastructure specializes in infrastructure investments including renewable power generation, battery storage, renewable and low-carbon fuels, electric transmission, thermal power, and midstream and downstream assets. Lotus Infrastructure has raised in excess of $3 billion of equity capital and has executed transactions totaling more than $8 billion in enterprise value, inclusive of approximately $2.8 billion in enterprise value related to the development and construction of renewable assets. The Lotus Infrastructure team brings extensive multi-functional expertise to its investments including development, construction, operations, acquisition and financing. For more information, please visit www.lotusinfrastructure.com.
About Caithness
Caithness Energy, L.L.C. is a privately held independent power producer with over 30 years of experience developing, managing, and operating innovative power generation projects. Headquartered in Red Bank, New Jersey, Caithness is known for its leadership in developing state- of-the-art, low-carbon generation solutions that support reliable power delivery and environmental stewardship.