Constellation Energy Group Inc. will sell the 550 MW natural gas-fired Quail Run power plant in West Texas to a local municipal utility for $185.3 million, or $337 a kilowatt.

Constellation sold the Odessa, Texas plant to High Plains Diversified Energy Co., a municipal utility formed by the West Texas Municipal Power Agency. The deal is contingent on High Plains obtaining funding through the sale of municipal bonds.

Constellation bought Quail Run in May 2011, along with another 550 MW plant near Wharton, Texas. Constellation said Quail Run's location is far from its retail and wholesale customers. The Baltimore-based energy company said it would use money from the sale to buy other plants in Texas closer to its major customer centers, as well as other markets.

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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

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...