PSEG ends sale of natural gas-fired power plant

PSEG Power LLC, a unit of Public Service Enterprise Group Inc. (NYSE:PEG) ended the $335 million purchase and sale agreement with High Plains Diversified Energy Corp. for its 1,000 MW gas-fired Odessa generation facility.

The Odessa deal was contingent on High Plains completing the transaction through the sale of municipal bonds.

PSEG Power continues to pursue the sale of Odessa with a goal of closing later this year.

Odessa is one of two 1,000 MW gas-fired power plants that PSEG Power announced it was selling earlier in 2011. The other facility, Guadalupe, was sold to Wayzata Investment Partners LLC in January 2011.

Read more mergers and acquisitions news

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

Whitepapers

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...