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NRG Energy paying $244M for Texas cogeneration plant

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NRG Energy Inc., of Princeton, has entered into an agreement to acquire a cogeneration plant, in Corpus Christi, Texas, in a $244 million deal.

The plant is equivalent to an approximately 560 megawatt combined cycle gas turbine plant. Counting both electrical generation and steam production, this cost equates to approximately $436 per kilowatt, NRG said.

According to Monday's announcement, the acquisition is being managed through a consortium of affiliates that includes Atlantic Power Corp., John Hancock Life Insurance Co. and Rockland Capital LLC.

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