Oklahoma Gas and Electric (OG&E) has acquired a 51% interest in the 1,230MW Redbud plant for a purchase price of about $434.5 million and will operate the plant on behalf of the Grand River Dam Authority (GRDA), which is acquiring a 36% stake, and Oklahoma Municipal Power Authority (OMPA), which is acquiring a 13% stake.
OG&E said that Redbud, a combined-cycle plant in service since 2004, operates more efficiently than some of the older units in the company’s generating fleet. The newer Redbud plant is also capable of ramping its production quickly up and down, an important characteristic which allows OG&E to maximize the benefits from inexpensive, but less predictable wind generation, maintained OG&E.
