Entergy to purchase two combined-cycle power plants

Entergy Mississippi Inc., a unit of Entergy Corp., signed an asset purchase agreement to acquire the 450 MW Hinds Energy Facility, a natural gas-fired combined-cycle plant, for $206 million. Entergy Arkansas also signed an asset purchase agreement to acquire the 620 MW Hot Spring Energy combined-cycle power plant for $253 million from units of KGen Power Corp.

Both companies are expected to invest in various plant upgrades in the plants after closing, which is expected to occur in mid-2012. The transactions are contingent upon regulatory approvals from the Mississippi and Arkansas public service commissions and the Federal Energy Regulatory Commission, as well as clearance under the Hart-Scott-Rodino anti-trust law. KGen must also obtain shareholder approval prior to selling the facilities.

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