NRG closes sale Okla. McClain power plant to OGE
The Oklahoma Municipal Power Authority will continue to own the remaining 23 percent of the facility, NRG and OGE said in separate statements recently. NRG sold its stake as part of the company's effort to divest non-core assets and reduce debt. The sale removed $156 million in debt from NRGs balance sheet, the company said.
NRG reached an agreement in August 2003 to sell its interest in the natural gas-fired facility to OGEs Oklahoma Gas and Electric (OG&E). McClain is located in Newcastle, Oklahoma about 20 miles south of Oklahoma City, the state capital.
OG&E serves nearly 720,000 customers in Oklahoma and Arkansas, and owns power plants that generate more than 5,000 MW of capacity.
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RIYADH - Saudi Arabia will become a regional heavyweight in the Middle East's wind power market adding over 6GW in the next 10 years, according to new research by Wood Mackenzie Power & Renewables.
The report – 'Middle East Wind Power Market Outlook, 2019-2028’ – said developers will build 6.2GW of wind capacity in the country or 46% of the region’s total wind capacity additions between 2019 and 2028.
Wood Mackenzie Power & Renewables senior analyst Sohaib Malik said: “The integration of renewables in Vision 2030’s objectives underlines strong political commitment within Saudi Arabia.
“The level of Saudi ambition for wind and solar…
