The plants being sold are: Zeeland (903 MW), West Georgia (613 MW), Shady Hills (469 MW), Sugar Creek (561 MW), Bosque (546 MW) and Apex (527 MW), constituting a total of 3,619 MW.
The transaction is expected to close by the second quarter of 2007 with net proceeds to Mirant after extinguishing $83 million of project-level debt expected to be $1.324 billion.
“Although these plants do not fit within our business strategy, they are excellent facilities,” said Edward R. Muller, chairman and chief executive officer of Mirant.
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