PEG To Sell Two Texas Plants For $687M

公共服务Enterprise Group(PEG) will sell two natural gas-fired power plants in Texas for about $687 million in separate deals,The Wall Street Journalreports. The New Jersey utility and generation company will sell its Odessa facility in west Texas toHigh Plains Diversified Energy, a local municipal utility group.

MinnTex Power Holdings, an entity managed byWayzata Investment Partners, will buy a limited partnership that owns the facility in south Texas. The company expects the sales to close during the first half of the year.

Click here for the story fromThe Wall Street Journal.

Click here for additional coverage fromBloomberg.