Long Ridge Energy Terminal to Develop 300+ Megawatt Data Center Campus
January 29 2020 - 6:50AM
Long Ridge Energy Terminal, located on 1,600 acres in Hannibal,
Ohio announced today its plans to develop a 125-acre data center
campus in conjunction with its on-site 485 MW combined cycle power
plant currently under construction.
Situated between Columbus, Ohio and Pittsburgh, Pennsylvania in
an Opportunity Zone, the data center campus will offer more than
300 megawatts of capacity to serve custom hyperscale data center
development and the wholesale colocation market in need of low-cost
on-site power, new customizable white space data center
infrastructure, and real estate expansion capability securely
outside of the crowded northern Virginia data center
market.
Long Ridge’s initial 15-acre phase, dubbed “LR-1”, will deliver
a 170,000-square foot powered shell with 24 megawatts of IT
capacity. Land has been cleared and site development planning is
well underway for the LR-1 structure.
“We believe Long Ridge represents a fresh opportunity to the
large-scale data center market,” said Robert Wholey, President of
Long Ridge. “The low-cost, virtually unlimited power
infrastructure, dark and lit cloud service fiber availability,
energy-efficient cooling provided by the Ohio River, and our plans
to leverage on-site solar energy to complement our power generation
capabilities - make Long Ridge an ideal, safe and secure emerging
data center location.”
Long Ridge’s data center development plans follow the December
2019 announcement that GCM Grosvenor purchased a 49.9% equity
interest in Long Ridge from Fortress Transportation and
Infrastructure Investors LLC.
About Long Ridge Energy TerminalThe Long Ridge
Energy Terminal is the Appalachian Basin's leading multimodal
energy terminal with a 485 MW power plant under development, nearly
300 acres of flat land, two barge docks on the Ohio River, a unit
train capable loop track and direct access to Ohio Route
7. Long Ridge is a subsidiary of Fortress Transportation
and Infrastructure Investors LLC, which trades on the New York
Stock Exchange under the ticker FTAI. For more information
on Long Ridge, please visit www.longridgeenergy.com.
About Fortress Transportation and Infrastructure
Investors LLCFortress Transportation and Infrastructure
Investors LLC (NYSE:FTAI) owns and acquires high quality
infrastructure and equipment that is essential for the
transportation of goods and people globally. FTAI targets
assets that, on a combined basis, generate strong and stable cash
flows with the potential for earnings growth and asset
appreciation. FTAI is externally managed by an affiliate of
Fortress Investment Group LLC, a leading, diversified global
investment firm.
About GCM GrosvenorGCM Grosvenor is a global
alternative asset management firm with over $57
billion in assets under management in hedge fund strategies,
private equity, infrastructure, real estate and multi-asset class
solutions. GCM Grosvenor is one of the largest, most diversified
independent alternative asset management firms worldwide, and has
offered alternative investment solutions since 1971. The firm is
headquartered in Chicago, with offices in New
York, Los Angeles, London, Tokyo, Hong
Kong and Seoul, serving a global client base of
institutional and high net worth investors.
Cautionary Note Regarding Forward-Looking
Statements Certain statements in this press release may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 including, but not
limited to, statements regarding plans for and completion and
operation of the power plant, and ability to offer certain
megawatts of capacity. These statements are based on FTAI
management’s current expectations and beliefs, and are subject to a
number of trends and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements, many of which are beyond FTAI’s control. FTAI and Long
Ridge can give no assurance that their expectations will be
attained and such differences may be material. Accordingly, you
should not place undue reliance on any forward-looking statements
contained in this press release. For a discussion of some of the
risks and important factors that could affect such forward-looking
statements, see the relevant sections entitled “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in FTAI’s most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q, which are available on
FTAI’s website www.ftandi.com. In addition, new risks
and uncertainties emerge from time to time, and it is not possible
for FTAI to predict or assess the impact of every factor that may
cause its actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak
only as of the date of this press release. FTAI expressly disclaim
any obligation to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in FTAI’s expectations with regard thereto or change in events,
conditions or circumstances on which any statement is based. This
release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities.
Contact:Ed MyersLong Ridge Energy
Terminaled.myers@longridgeenergy.com(434) 242-0663
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