Southern Energy Inc, a subsidiary of Southern Co, has agreed to buy generating plants from two New England utilities for $537 million. The power stations, with a combined generating capacity of around 1260 MW, are owned by subsidiaries of Commonwealth Energy System and Eastern Utilities Associates.
Commonwealth Energy is selling Canal Unit 1 in Sandwich Massachusetts and a 50 per cent interest in Canal Unit 2; the other 50 per cent is being sold by Eastern Utilities. Commonwealth Energy is also selling five diesel generators, its Kendall and Kendall Jets plants in Cambridge, Massachusetts and a 1.4 per cent share in the Wyman Unit 4 in Yarmouth, Maine.
