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Combined cycle plant sold for $355 million

Capital Power Corp. has agreed to buy privately held natural gas utility company Bridgeport Energy LLC, which owns the Bridgeport Energy facility, for $355 million. Bridgeport Energy is a 520 MW natural gas-fired combined-cycle plant in Connecticut.

In February, Edmonton-based Capital Power bought two generating facilities from U.S.-based Brick Power Holdings for about $315 million. The three power plants will add more than 1,000 MW of combined-cycle natural gas fired generation capacity to Captial Power's fleet.

The company said it will use debt and equity to finance both the deals.

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