Complete Energy selling power plant
HATTIESBURG, MISSISSIPPI - A subsidiary of Complete Energy Holdings, LLC, has signed a definitive agreement with a wholly-owned subsidiary of KGen Power Corporation to sell the Batesville Generating Facility, an 837-megawatt gas-fired combined cycle plant in Batesville, and La Paloma Generating Company, LLC, which operates a 1,022-megawatt gas-fired combined cycle plant in Kern County, Calif. Terms were not disclosed.
Since August 2004, Complete Energy has owned and operated the Batesville Generating Facility, which it acquired from NRG Energy Inc.
"We have benefited from improving operational and commercial performance at both plants, in large part due to the efforts of the experienced staff at the facilities," said Peter Dailey, managing director of Complete Energy. "We also believe that the commodity market has improved since we purchased the assets."
The plant employees will remain at the facilities after the close of the transaction, which is expected to close at the end of the third quarter, subject to regulatory approvals.
Related News
Poland’s largest power group opts to back wind over nuclear
WARSAW - PGE, Poland’s biggest power group has decided to abandon a role in building the country’s first nuclear power plant and will instead focus investment on offshore wind energy.
Reuters reports state-run refiner PKN Orlen (PKN.WA) could take on PGE’s role, while the latter announces a $10bn offshore wind power project.
Both moves into renewables and nuclear represent a major change in Polish energy policy, diversifying away from the country’s traditional coal-fired power base, in a bid to fill an electricity shortfall and meet EU emission standards.
An unnamed source told the news agency, PGE could not fund both projects and cheap…
