Iberdrola Renewables‘ U.S. energy business, PPM Energy, said subsidiary Enstor Inc. completed the acquisition of ownership interests in the Freebird Gas Storage facility in Lamar County, AL, from Houston-based Multifuels LP and Denham Capital. The transaction is valued at $164 million subject to adjustments. RBC Capital Markets advised on the sale. The facility has a working capacity of 7.6 Bcf with the potential to be expanded to 11.4 Bcf. The Freebird facility is on the Tennessee 500 line. The Northwest Alabama Gas District is a co-owner of the facility.
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