Carlyle Power Partners has sealed a deal with Canadian firm Emera to purchase three natural gas-fired power plants in New England, in the USA.
Carlyle Power Partners will buy the three power plants for $590 million, making it one of the largest power generators in the US northeast. Emera said that the sale would help it to reduce debt and finance investments in its regulated utility business.
Combined, the Bridgeport Energy, Tiverton Power and Rumford Power plants have a generating capacity of 1100 MW.
Cogentrix, The Carlyle Group’s management platform in the power generation sector, will assume asset management, operations and maintenance and energy management responsibilities for the portfolio. Cogentrix currently manages Carlyle Power Partners’ fleet of power plants in the northeast US, totalling approximately 1400 MW.
The deal is subject to regulatory approvals.