In addition, Tenaska Capital announced that TPF has entered into an agreement to sell the Calumet Energy Power Station, a 303MW power plant in Chicago, Illinois.
The four plants are being purchased by a subsidiary of International Power for a purchase price of $856.4 million. The acquisitions are expected to close by the end of the third quarter of 2008.
Dan Lonergan, senior managing director for Tenaska Capital Management, said: The success of this transaction indicates the growing value of energy assets in the Middle Atlantic and Midwest regions. We are pleased that International Power has taken advantage of this excellent opportunity. All four facilities are well positioned to meet growing demand in attractive markets.
