Emera to sell natural gas power plants to Carlyle for $780 mln

Halifax-based energy utility Emera Inc (TSX: EMA) has agreed to sell its three natural gas-fired generation facilities in New England to U.S. private equity firm Carlyle Group for $780 million. The deal is expected to close in the first quarter of 2019. The facilities, known as Bridgeport Energy, Tiverton Power and Rumford Power, together have a capacity to generate about 1,100 megawatts. Emera said the proceeds will be used to reduce debt and support capital investment opportunities. Cogentrix, Carlyle’s power generation platform, will assume asset management, operations, and maintenance and energy management responsibilities for the portfolio.

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