Coal-Fired Power Plant

Ownership, Operations and Maintenance of a Central Utility Plant

Pillowtex Corporation – Kannapolis, North Carolina

Due to an environmental agency compliance order, Pillowtex was facing
significant capital expenditures to replace the particulate removal
system in its coal-fired central steam/electric plant. Pillowtex wanted to
find a way to preserve its capital for more strategic areas of its business.  Peregrine Energy  purchased the central steam facility from Pillowtex (formerly Fieldcrest Cannon) in February 1996 and implemented over $8 million in capital improvements through a turnkey, design/build, own/operate structure.