Koch Industries unit to buy 1,055 MW gas-fired power plant in Texas

Koch Energy Services, a unit of Koch Industries, will buy a 1,055 MW natural gas-fired power plant in Texas from a private equity group that purchased the plant in 2011. Financial terms of the deal are not available.

The Odessa gas-fired plant began commercial operation in 2001 and sells electric power to the Electric Reliability Council of Texas (ERCOT) grid.

Energy Capital Partners II purchased the Odessa plant in 2011 for $335 million from PSEG Power, a unit of Public Service Enterprise Group as PSEG exited the Texas power market.

The transaction is subject to regulatory approval and could close late in the fourth quarter or in early 2014.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs