Public Service Enterprise Group (PEG) will sell two natural gas-fired power plants in Texas for about $687 million in separate deals, The Wall Street Journal reports. The New Jersey utility and generation company will sell its Odessa facility in west Texas to High Plains Diversified Energy, a local municipal utility group.
MinnTex Power Holdings, an entity managed by Wayzata 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.
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