GenOn Energy, a unit of NRG Energy that filed for bankruptcy in June 2017, said it has agreed to sell two units of the Canal Generating Plant to Stonepeak Kestrel, a subsidiary of Stonepeak Infrastructure Partners, a private equity firm with offices in New York City and Houston, Texas.
The Canal plant in Sandwich, Massachusetts, named after the Cape Cod Canal, was a coal-fired facility when it came online in 1968. Today it operates on natural gas and petroleum fuel. The $390.3 million deal announced March 23 is expected to close in the third quarter of this year. The two units have combined generating capacity of 1,112 MW.
GenOn, formed in 2010 after the merger of RRI Energy and Mirant, was bought by NRG in 2012 in a …
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