MIC owns, operates, and invests in infrastructure and infrastructure-like businesses in the U.S., including an airport services business, one of the largest bulk liquid terminals businesses, gas production and distribution and energy services businesses in Hawaii, and a portfolio of contracted power generation facilities. MIC has owned and operated businesses in these four segments since 2006.
MIC’s airport services business, Atlantic Aviation, provides fuel, terminal, aircraft hangaring and other services primarily to owners and operators of general aviation (non-commercial) aircraft. Atlantic Aviation operates at 70 locations, and represents one of the largest networks of fixed base operations in the U.S. The business operates at some of the most popular business and recreational destinations in the country.
International-Matex Tank Terminals (IMTT)
MIC owns International-Matex Tank Terminals (IMTT), one of the largest independent bulk liquid marine terminals businesses in the U.S. IMTT owns and operates 17 terminals in the U.S. and two terminals in Canada (one partially owned) that together provide storage and logistics services including more than 48 million barrels of refined petroleum, chemical, and vegetable and tropical oil tankage.
MIC Hawaii comprises Hawaii Gas and other smaller businesses collectively engaged in efforts to reduce the cost and improve the reliability and sustainability of energy in Hawaii. Hawaii Gas is the only utility gas distributor and the largest propane distributor in the State. Hawaii Gas operates on the six major islands and serves approximately 68,000 customers. MIC Hawaii also includes Critchfield Pacific, a design-build mechanical contractor which specializes in energy efficient systems, the 7 megawatt Waihonu solar facilities and two distribution generation projects serving commercial users under long-term contracts.
Contracted Power (CP)
CP includes the Bayonne Energy Center (“BEC”) and a portfolio of renewable power generation facilities. BEC is a gas-fired turbine power generation facility supplying electricity to New York City. BEC was constructed in 2012 and, following an expansion, has a generating capacity of 644 megawatts. Approximately 50% of BEC’s capacity is subject to a tolling agreement with a remaining average life of ~9.7 years. CP has also invested in seven solar and two wind power generation facilities that have an aggregate generation capacity of 345 megawatts. The renewable facilities sell electricity to local utilities and government entities under longdated (typically 20-25 years at COD) power purchase agreements.