CSA Z462 Arc Flash Training – Electrical Safety Compliance Course
Our customized live online or in‑person group training can be delivered to your staff at your location.
- Live Online
- 6 hours Instructor-led
- Group Training Available
Quail Run sale to HPDEC details Constellation Energy's divestiture of a West Texas natural gas plant in ERCOT, with financing via municipal bonds, aligning generation assets closer to major retail and wholesale customers.
The Latest Developments
Constellation to sell Quail Run to HPDEC, pending municipal bond financing and closing terms in ERCOT's West zone.
- Buyer: HPDEC, a municipal utility formed by WTMPA.
- Seller: Constellation Energy Resources.
- Asset: Quail Run natural gas plant near Odessa (ERCOT West).
Constellation Energy announced it has signed an agreement to sell the 550-megawatt Quail Run natural gas plant in west Texas to High Plains Diversified Energy Corporation HPDEC for $185.3 million. The agreement is contingent upon HPDEC obtaining financing through the sale of municipal bonds.
Constellation Energy acquired Quail Run, located near Odessa, Texas in May 2010 as part of a two-plant agreement, which included the 550-megawatt Colorado Bend natural gas plant near Wharton, Texas, in ERCOT's Electricity Reliability Council of Texas Houston zone. HPDEC is a municipal utility formed by the West Texas Municipal Power Agency. HPDEC has as its development partner Republic Power Partners.
“Quail Run is a modern, efficient, well-managed asset however, its location in ERCOT's west zone is far from our retail and wholesale customers and growth opportunities,” said Kathleen W. Hyle, senior vice president, Constellation Energy, and chief operating officer, Constellation Energy Resources. “The strategic value in this transaction is that it presents the potential to redeploy capital to be used for the acquisition of generation closer to our major customer centers in ERCOT and competitive markets nationwide.”
Under terms of the definitive sales agreement, HPDEC will pursue financing to complete the transaction through the issuance of municipal bonds. Should HPDEC successfully secure financing, the sale would also be subject to standard terms and closing conditions.
Separately, PNM Resources Texas operations have been scaled back amid shifting market dynamics in the state.
Related News
Related News
Trump's Proposal on Ukraine's Nuclear Plants Sparks Controversy
New Hydro One CEO aims to repair relationship with Ontario government — and investors
Ontario pitches support for electric bills
Soaring Electricity And Coal Use Are Proving Once Again, Roger Pielke Jr's "Iron Law Of Climate"
IVECO BUS Achieves Success with New Hydrogen and Electric Bus Contracts in France
Electric shock: China power demand drops as coronavirus shutters plants
Sign Up for Electricity Forum’s Newsletter
Stay informed with our FREE Newsletter — get the latest news, breakthrough technologies, and expert insights, delivered straight to your inbox.
Electricity Today T&D Magazine Subscribe for FREE
- Timely insights from industry experts
- Practical solutions T&D engineers
- Free access to every issue