Entergy to acquire combined-cycle power plant from NextEra

Entergy Corp. (NYSE: ETR) will acquire the 550 MW combined-cycle Rhode Island State Energy Center from NextEra Energy Resources (NYSE: NEE) for $346 million.

The plant is a nominal 550 MW Siemens (NYSE: SI) generating plant that entered commercial service in 2002. Siemens is currently working to uprate the combustion turbines, which is scheduled for completion in November 2011 and will increase the plant’s capacity to 583 MW.

Closing on the deal is expected to happen in late 2011 but is subject to approval from the Federal Energy Regulatory Commission.

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