Entergy Selling 583-MW Rhode Island NatGas Plant for Nearly $500 Million

Entergy Selling 583-MW Rhode Island NatGas Plant for Nearly $500 Million

Entergy Corp. (NYSE: ETR) has announced plans to sell the Rhode Island State Energy Center to the Carlyle Group, a D.C.-based private equity corporation.

Entergy purchased the 583-MW natural gas-fired plant in 2011 for $346 million and now plans to sell the plant to the Carlyle Power Partners’ subsidiary for $490 million.

Assuming the sale closes by the end of 2015, Entergy expects a net gain of 50 cents per share. 

The integrated utility company owns and operates plants with about 30,000 MW of capacity, including about 10,000 MW of nuclear power, and serves customers in Arkansas, Louisiana, Mississippi and Texas.

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