Entergy Picks Up RI Power Plant For $346M

Law360, New York (October 24, 2011, 6:26 PM EDT) -- Energy holding company Entergy Corporation reached an agreement Monday to purchase a natural gas power plant in Rhode Island from a subsidiary of NextEra Energy Inc. for $346 million, bolstering its non-nuclear power generating capacity.

The Rhode Island State Energy Center, located in Johnston, R.I., is a 550-megawatt Siemens AG natural gas-fired combined cycle-generating plant, Entergy said. The purchase price is subject to closing adjustments, and the deal is expected to close later this year.

"The acquisition presents an opportunity to create value by acquiring modern,...
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