NextEra sells natural gas-fired plants to LS Power for $1.05bn

5 September 2011 (Last Updated September 5th, 2011 18:30)

NextEra Energy Resources has signed an agreement with LS Power to sell four of its natural-gas-fired power plants in the US for $1.05bn. The assets to be sold by NextEra include 507MW Blythe Energy Center in California, 668MW Calhoun Energy Center in Alabama, 98MW Cherokee Energy Cente

NextEra Energy Resources has signed an agreement with LS Power to sell four of its natural-gas-fired power plants in the US for $1.05bn.

The assets to be sold by NextEra include 507MW Blythe Energy Center in California, 668MW Calhoun Energy Center in Alabama, 98MW Cherokee Energy Center in South Carolina and 879MW Doswell Energy Center in Virginia.

Under the terms of service contracts, the company will operate three of these facilities for an initial period of five years and the fourth facility for two years.

The transaction is expected to close in the third quarter of 2011.