Oglethorpe Power has completed the acquisition of KGen Murray I and II, for $529m, and two natural gas-fired, combined cycle generating units in Georgia, US.
The two units have a total generating capacity of 1,220MW and will be initially operated independently, but integrated into the system in future.
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The acquisition also includes the power purchase and sale agreement between Murray and Georgia Power Company to sell the complete output of Murray I until 31 May 2012.
In purchasing the Murray units, Oglethorpe Power has now officially cancelled the construction of a planned 605MW, combined-cycle generating plant, which was in the siting stage.
The transaction is being funded through a loan from the Rural Utilities Service and other taxable bonds.
KGen Murray I and II is a subsidiary of KGen Power Corporation.
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