Entergy says it has completed a previously announced purchase of the Rhode Island State Energy Center—an approximately 583-megawatt power plant located in Johnston, R.I.—from subsidiaries of NextEra Energy Resources for approximately $346 million. Entergy announced the deal in October. At that time, Entergy Wholesale Commodities President Richard Smith said the acquisition “presents an opportunity to create value by acquiring modern, efficient generation at approximately half the new build cost. This asset enhances the value of our existing portfolio through the addition of generation in the New England market that is well positioned to benefit from expected market recovery.” The facility, in service since 2002, was upgraded in November to increase its output from a nominal 550-megawatt Siemens natural gas-fired combined-cycle generating plant. The plant will be operated by Entergy Wholesale Commodities, which sells electricity on the wholesale market.
Entergy completes purchase of Rhode Island plant
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