Moda Midstream LLC secured $750 million in equity commitments from private-equity firm Encap Flatrock Midstream, the company said March 17.
Moda was formed in early 2015 and its four founding partners previously were members of the executive team at Oiltanking North America LLC and Oiltanking Partners LP.
Owen cited the demand for bulk liquids storage infrastructure, and said EnCap Flatrock’s commitment gave Moda financial flexibility to build a logistics platform through asset acquisitions and other projects.
Houston-based Moda Midstream was advised by Vinson & Elkins LLP and Crain, Caton & James PC. San Antonio-based EnCap Flatrock was advised by Thompson & Knight LLP.
Recommended Reading
Scout Signs Agreement with AdventHealth for Texas Wind Farm
2024-02-01 - Scout Clean Energy will supply a portion of its Heart of Texas wind farm to support 40% of AdventHealth’s electricity needs.
RIC Energy Sells 20 MW of Solar Plants to Luminace
2024-03-04 - RIC Energy says the facilities are expected to provide 100% clean energy to more than 5,000 homes participating in the utilities’ community solar programs.
CERAWeek: NextEra CEO: Growing Power Demand Opportunity for Renewables
2024-03-19 - Natural gas still has a role to play, according to NextEra Energy CEO John Ketchum.
Energy Transition in Motion (Week of Feb. 2, 2024)
2024-02-02 - Here is a look at some of this week’s renewable energy news, including a utility’s plans to add 3.6 gigawatts of new solar and wind facilities by 2030.
Energy Transition in Motion (Week of Feb. 16, 2024)
2024-02-16 - Here is a look at some of this week’s renewable energy news, including the outlook for solar and battery storage in the U.S.