Stroock Represents Ridgewood Infrastructure in Sale of Neptune Regional Transmission System
New York, March 14, 2018 — Stroock represented Ridgewood Infrastructure LLC in the sale of its managed interest in the Neptune Regional Transmission System, an operating 65-mile undersea and underground power transmission line connecting New Jersey and Long Island. Neptune has capacity of 660 MWs of high-voltage direct-current that is fully contracted with the Long Island Power Authority under a long-term agreement.
The Stroock team was led by partner Richard Madris, head of Stroock’s Infrastructure Group, and included special counsel Dan Park, special counsel Dan Simon and tax partner Michelle Jewett.
Ridgewood Infrastructure, a value-adding investor focused on water and other essential infrastructure in the U.S. lower middle market, is part of the affiliated Ridgewood Companies, which currently manage capital and commitments of more than $5 billion focused primarily on infrastructure and energy.
Stroock provides strategic transactional, regulatory and litigation advice to advance the business objectives of leading financial institutions, multinational corporations and entrepreneurial businesses in the U.S. and globally. With a rich history dating back 140 years, the firm has offices in New York, Los Angeles, Miami and Washington, D.C.