Investors Sue Over $100 Million Deal for Texas Power Plants

Nov. 19, 2021, 8:41 PM

Investors say they were duped into a $100 million deal to finance the construction of two power plants in Texas, according to a filing in a state court.

Castleman Power Development LLC’s fraud left the investors with power plants that were “uneconomic” under the terms secretly negotiated with Shell Energy North America LP, according to the filing in the Texas District Court.

The court should also block Castleman Power Development from divesting itself of assets that would satisfy at least some of the damages, Rockland Power Partners III LP, Paucitas Energy Holdings LLC, and AEV Projects LLC argue.

Castleman said ...

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